KUALA LUMPUR, Oct 26 — The ringgit closed lower against the US dollar but strengthened against most major and Asean currencies on Monday as investors remained cautious ahead of the US Federal Reserve’s (Fed) policy meeting, an analyst said.
At 6pm, the ringgit eased to 4.0855/0895 against the greenback from Friday’s close of 4.0835/0875.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said US President Donald Trump’s hawkish stance towards Iran also pointed to upside risks to crude oil prices.
“This is a critical backdrop for the US Federal Open Market Committee members as they deliberate their decision on October 28, especially their views on the risk of higher inflation going forward,” he told Bernama.
