KUALA LUMPUR: 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 6 pm, the ringgit stood at 4.0805/4.0845 against the greenback, unchanged from Monday’s closing.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit traded within a narrow range amid mixed performances across Asian currency markets.
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.
