KUALA LUMPUR,: The ringgit opened higher against major currencies today, but eased marginally against the US dollar as stronger United States inflation reinforced expectations that the Federal Reserve would keep interest rates elevated for longer.
At 8am, the local note slid to 4.0685/4.0750 against the greenback from Wednesday’s close of 4.0670/4.0715.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Consumer Price Index (CPI) was the main highlight overnight, with inflation soaring to 4.2% in May, the highest level since May 2023.
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