The ringgit closed higher against most major currencies, but eased versus the greenback amid expectations that firmer US inflation could reinforce the US Federal Reserve's restrictive monetary policy stance, thereby supporting demand for the US dollar. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said that tonight's US CPI data would be closely watched by the market, with consensus estimates in headline inflation at 3.7% in April from 3.3% in the previous month. He also mentioned that the Fed may keep interest rates steady while the likelihood of an interest rate cut this year would remain low.
The ringgit closed higher against most major currencies , but eased versus the greenback amid expectations that firmer US inflation could reinforce the US Federal Reserve 's restrictive monetary policy stance .
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said that tonight's US CPI data would be closely watched by the market, with consensus estimates in headline inflation at 3.7% in April from 3.3% in the previous month. He suggested that the US Federal Reserve may keep interest rates steady while the likelihood of an interest rate cut this year would remain low
Ringgit Major Currencies US Dollar Federal Reserve Inflation Monetary Policy Stance Expected US President Donald Trump And Chinese Presiden Geopolitical Risks Meeting Interest Rates
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