KUALA LUMPUR – The ringgit traded almost flat against the US dollar this morning as investors awaited lending rate decisions in both Malaysia and the United States.
Bank Negara Malaysia’s Monetary Policy Committee is scheduled to announce its Overnight Policy Rate (OPR) decision tomorrow, while in the US, markets are looking ahead to the Federal Reserve’s decision on the Federal Funds Rate (FFR) next month.
The narrowing gap between the FFR and OPR remains the main factor influencing the local note’s performance.
At 8 am, the ringgit stood at 4.1945/2050 against the US dollar, compared with Tuesday’s close of 4.1950/1985.
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