Ringgit stronger after smaller US rate hike
| Published date | 02 February 2023 |
| Publication title | Malay Mail Online |
The ringgit appreciated against the US dollar this morning following the United States (US) Federal Reserve's (Fed) encouraging move to slow the pace of its interest rate hikes during its recent meeting.
At 9am, the ringgit strengthened to 4.2280/2350 versus the greenback compared with 4.2655/2700 at Tuesday's close.
SPI Asset Management managing partner Stephen Innes said the Fed is seeing nearing the end of its aggressive rate hike cycle as inflation in the US has subsided.
On Wednesday, the Fed raised its...
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