KUALA LUMPUR: The ringgit continued its gains to end higher against the US dollar on Thursday, following the US Federal Reserve’s (Fed) decision to keep the benchmark interest rate steady at 3.75% to 4%, an analyst said.
At 6pm, the ringgit climbed to 4.0575/4.0620 against the greenback from yesterday’s close of 4.0745/4.0790.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said investors would be monitoring the US Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, which is due for release tonight.
The index is expected to rise to 3.1% in September from 3% in the previous month.
