Ringgit ends higher against US dollar on softer US CPI data
The ringgit has ended higher against the US dollar today as the greenback retreats after the US Consumer Price Index continues to soften, leading US Treasury two-year yields to drop, analysts said. – The Malaysian Insight file pic, December 14, 2022.
“This could imply that the market thinks the US Federal Reserve could pause rate hikes in the second quarter of 2023.That will also play out well for the ringgit,” SPI Asset Management managing director Stephen Innes told Bernama. It was reported that in the 12 months through November, the US CPI climbed 7.1%, the smallest advance since December 2021.
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