KUALA LUMPUR: The ringgit closed mixed today as investors stayed cautious ahead of the US Federal Reserve’s (Fed) policy meeting, an analyst said.
At 6pm, the ringgit eased to 4.0855/4.0895 against the US dollar from Friday’s close of 4.0835/4.0875, but strengthened against other Asean currencies.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said that US president Donald Trump’s hawkish stance towards Iran also pointed to upside risks for crude oil prices.
“This is a critical backdrop for the Federal Open Market Committee (FOMC) members as they deliberate their decision on Oct 28, especially their views on the risk of higher inflation going forward,” he told Bernama.