KUALA LUMPUR, Oct 29 — The ringgit continued its gains to end higher against the US dollar today, following the US Federal Reserve’s (Fed) decision to keep the benchmark interest rate steady at 3.75 per cent to 4.00 per cent, an analyst said.

At 6pm, the ringgit climbed to 4.0575/0620 against the greenback from yesterday’s close of 4.0745/0790.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors would be monitoring the Fed’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 per cent in September from 3.0 per cent in the previous month.