Ringgit maintains stronger footing at the close

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KUALA LUMPUR: The ringgit continued to be on a stronger footing against the US dollar today after recent weakness as the markets anticipate a rate cut by the US Federal Reserve, said an economist.

"Ultimately, the gap between the two rates will make the ringgit look more appealing at the current juncture,” he told Bernama.

Markets are pricing in a 25-basis point interest rate cut at the Fed’s November meeting, set for Nov 6-7.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndonesiaJapanSingapore

Topics: US dollar Ringgit closing Forex US presidential election /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 19:29:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 467 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23429451

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