KUALA LUMPUR, Oct 20 — The ringgit closed flat against the US dollar on Tuesday as investors remained cautious ahead of the US Federal Reserve’s (Fed) policy meeting next week, an analyst said.
At 6pm, the ringgit stood at 4.0805/0845 against the greenback, unchanged from Monday’s closing.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit traded within a narrow range today amid a mixed performance by foreign exchange markets across the Asia.
He said the US Dollar Index (DXY) fell as market expectations of a US Federal Reserve rate hike at the Oct 27-28 Federal Open Market Committee (FOMC) meeting remained low.
