According to The Edge Market article published on December 13, 2022, the ringgit slipped further against the US dollar at the open on Tuesday (Dec 13), as lingering uncertainty weighed on the market, with investors split on what the US Federal Reserve’s (Fed) next monetary policy moves would be, said a dealer.
At 9.01am, the local note was traded at 4.4250/4300 against the US dollar, compared with 4.4150/4200 at the close on Monday.
ActivTrades Trader Dyogenes Rodrigues Diniz said the market was predicting that US interest rates would rise to 4.5% from 4.0% currently.
“All eyes, however, will be on the press conference that will follow the announcement of the interest rate decision, as it may offer important clues about how the Fed will behave during 2023, and whether it will take a more hawkish or dovish stance,” he said in a note.
The ringgit was traded mostly lower against a basket of major currencies on Tuesday morning.
The local note eased against the pound to 5.4317/4378 from 5.4190/4251 at Monday’s close, declined vis-a-vis the euro to 4.6666/6719 from 4.6622/6675, and weakened versus the Singapore dollar to 3.2686/2728 from 3.2641/2683.
It strengthened against the yen to 3.2119/2160 from 3.2311/2350 previously.
Tags: All Products,AlwaysFree,Asia Pacific,English,Malaysia,SEA
Published on December 13, 2022 4:23 PM (GMT+8)Last Updated on December 13, 2022 4:23 PM (GMT+8)
