Ringgit closes higher against US dollar ahead of US CPI data

KUALA LUMPUR, April 9 — The ringgit ended the day higher against the US dollar as market players await the United States (US) consumer price index (CPI) data for March today,...

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At 6pm, the ringgit rose to 4.7455/7500 against the US dollar from yesterday’s closing of 4.7505/7545. "It seems that the thought of three rate cuts in the US this year could be revisited in light of the recent strong job growth in March."Additionally, if the inflation rate would take its own sweet time to reach the two per cent target, the more reason the Federal Reserve would need to stay vigilant on the risk of higher inflation especially when crude oil prices remain elevated. As such, the ringgit may weaken in the near term,” he told Bernama.

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Closes Higher Against US Dollar Ahead Of US CPI Data

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