Ringgit strengthens to 4.0730/0800 against US dollar as FOMC minutes pressure greenback
AI Market Summary
FOMC minutes highlighted a meaningful divide among Fed officials over whether to hold or hike, pressuring the US dollar as DXY eased and supporting a broad bid in Asian FX, including the ringgit. Markets are also focused on Bank Negara Malaysia's MPC decision, with OPR expected unchanged, where the policy statement may influence local rate expectations amid elevated geopolitical uncertainty.
Impact level
● Low
Affected assets
NCSIDXY2USD/USDT+0.10%
AI Insight · NCSIDXY2USD/USDTAI Insight
● Neutral
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Malaysia’s ringgit firmed in early trade, rising to 4.0730/0800 against the US dollar as the release of Federal Open Market Committee minutes highlighted a clear divide among officials over the interest-rate path, weighing on the greenback. The US Dollar Index (DXY) slipped in response, lifting most Asian currencies, including the ringgit. Markets are also watching Bank Negara Malaysia’s Monetary Policy Committee decision, with the Overnight Policy Rate expected to stay at 2.75%.
