Ringgit hits 4.65 mark against US dollar boosted by rate cut anticipation

KUALA LUMPUR, July 26 — The ringgit ended the week on a strong note against the US dollar, closing at 4.6550/6605 today versus yesterday’s closing of 4.6600/6625. The local...

The ringgit also traded firmer against a basket of major currencies, such as the British pound sterling and the Japanese yen. — Reuters picKUALA LUMPUR, July 26 — The ringgit ended the week on a strong note against the US dollar, closing at 4.6550/6605 today versus yesterday’s closing of 4.6600/6625.

The WIRP tool, used by traders, forecasts a 105.5 per cent probability for the US Federal Reserve to cut the benchmark rate in September. “The US headline and core personal consumption expenditures price index is expected to decrease to 2.4 per cent and 2.5 per cent in June, from 2.6 per cent in May,” he told Bernama.

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