Ringgit slightly up ahead of tonight’s US inflation data FMTNews FMTBusiness
KUALA LUMPUR: The ringgit ended marginally higher against the US dollar today ahead of tonight’s release of the US inflation data.
“In some sense, there appears to be concerns over global growth prospects, which necessitate an accommodative monetary policy. Meanwhile, SPI Asset Management managing partner Stephen Innes said that the ringgit closed with little change as traders maintained a cautious stance in anticipation of the US CPI release.
“As a result, we may witness a clash between rising energy prices and higher US yields, particularly if the US inflation data exceeds expectations,” he said.
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