Ringgit marginally lower v greenback | The Malaysian Insight

Ringgit marginally lower v greenback

Technical indicators suggest the ringgit is oversold, so the local note could appreciate today. – The Malaysian Insight file pic, June 14, 2023.

Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid said the US’ headline consumer price index for May came in lower than expected, proving its inflation rate is steadily declining. With the DXY declining by 0.3% to 103.33 points, he said the ringgit may get a boost from lower US inflation as the Fed could take a break from the policy rate hike during the Federal Open Market Committee meeting later tonight.

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