By Rosemarie Khoo Mohd Sani<\/p>\n\n\n\n
KUALA LUMPUR, Aug 17 (NNN-Bernama) —\u00a0The Malaysian ringgit traded lower against the US dollar at the opening today as the\u00a0US Dollar Index (DXY) strengthened by\u00a00.20 per cent\u00a0to 103.419 points.\u00a0<\/p>\n\n\n\n
Analysts said this came as the July Federal Open Market Committee (FOMC) meeting minutes revealed that the United States Federal Reserve (Fed) members were still concerned about inflation, which necessitated the restrictive monetary policy to be retained.<\/p>\n\n\n\n
At 9 am, the local note fell to 4.6420\/6455 against the US dollar from 4.6265\/6320 at Wednesday\u2019s close.<\/p>\n\n\n\n
With China\u2019s economy looking increasingly shaky and the Bank of Japan (BoJ) unlikely to budge from its accommodative monetary stance, the US dollar would continue to be the highly sought-after currency, said Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid. <\/p>\n\n\n\n
\u201cOn that note, the USD\/MYR is expected to remain weak in the near term and move between RM4.62 and RM4.63.<\/p>\n\n\n\n
\u201cThe ringgit continues to flirt around its support level of RM4.6257, with the resistant level currently at RM4.7495,\u201d he told Bernama. <\/p>\n\n\n\n
Meanwhile, ActivTrades trader Dyogenes Rodrigues Diniz noted that if the rate hits above 4.6450, the ringgit-US dollar could move to the 4.6850 and 4.7450 levels.<\/p>\n\n\n\n
Alternatively, if it breaks below 4.6130, the ringgit could appreciate around the 4.5750 level against the greenback, he added. <\/p>\n\n\n\n
Meanwhile, the ringgit was traded mostly higher against a basket of major currencies.<\/p>\n\n\n\n
It improved versus the Japanese yen to 3.1708\/1734 from 3.1782\/1822 on Wednesday and rose versus the euro to 5.0459\/0497 from 5.0549\/0609, but inched down vis-a-vis the British pound to 5.9046\/9091 from 5.9020\/9090 yesterday\u2019s closing.<\/p>\n\n\n\n
At the same time, the local unit was traded mixed against other ASEAN currencies.<\/p>\n\n\n\n
The ringgit eased vis-a-vis the Singapore dollar to 3.4102\/4130 from 3.4086\/4132 on Wednesday but went up against the Thai baht to 13.0547\/0693 from 13.0777\/0995 previously. <\/p>\n\n\n\n
It depreciated against the Philippines\u2019 peso to 8.19\/8.21 from 8.18\/8.20 Wednesday and declined versus the Indonesian rupiah to 303.7\/304.1 from 302.7\/303.2 previously. <\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
By Rosemarie Khoo Mohd Sani KUALA LUMPUR, Aug 17 (NNN-Bernama) —\u00a0The Malaysian ringgit traded lower against the US dollar at the opening today as the\u00a0US Dollar Index (DXY) strengthened by\u00a00.20 per cent\u00a0to 103.419 points.\u00a0 Analysts said this came as the July Federal Open Market Committee (FOMC) meeting minutes revealed that the United States Federal Reserve (Fed) […]<\/p>\n","protected":false},"author":30,"featured_media":216467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/233260"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=233260"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/233260\/revisions"}],"predecessor-version":[{"id":233263,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/233260\/revisions\/233263"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/216467"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=233260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=233260"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=233260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}