Ringgit opens slightly lower against US dollar after Fed leaves interest rate unchanged

KUALA LUMPUR, May 2 — The ringgit opened a tad lower against the US dollar today after the US Federal Reserve (Fed) kept its benchmark interest rate unchanged. At 9.00am, the...

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At 9.00am, the ringgit opened at 4.7705/7775 against the greenback from Tuesday’s close of 4.7700/7750. “At the same time, the option to raise interest rates was not on the table, with the Fed emphasising the need to assess incoming data before any decision can be made. In that sense, the higher for longer still holds but the downward bias on rates is intact,” he told Bernama.He said that it is more a question of when the Fed will start to ease the monetary policy stance.

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