This also comes on the back of increased jobless claims in America

Rate cut likely at FOMC meeting in September, says economist

Economist says the American labour market has weakened, allowing the ringgit to gain strength.

KUALA LUMPUR, June 17 — The ringgit opened flat against the US dollar today as investors steered towards the sidelines amid cautious sentiment ahead of the two-day Federal Open Market Committee (FOMC) meeting beginning later today, said an analyst.

KUALA LUMPUR, March 21 — The ringgit eased against the US dollar at the opening today, taking a breather from recent gains as markets assessed the US Federal Reserve’s latest stance, which was seen as mildly dovish yet cautious.

KUALA LUMPUR, March 19 — The ringgit opened higher against the US dollar ahead of the US Federal Open Market Committee’s (FOMC) decision on interest rates later tonight.

KUALA LUMPUR, March 17 — The ringgit opened higher today after the United States (US) averted government shutdown, suggesting improved risk appetite sentiment, leading to a weaker US dollar.

KUALA LUMPUR, March 15 — The ringgit is expected to remain defensive within the 4.43-4.44 range against the US dollar next week, as cautious investor sentiment continues to strengthen demand for the greenback as a safe-haven currency, said an analyst.

KUALA LUMPUR, Jan 28 — The ringgit opened slightly higher against the US dollar and other major currencies ahead of the two-day US Federal Open Market Committee (FOMC) meeting, which starts today, and a holiday-shortened week, an analyst said.

KUALA LUMPUR, Jan 27 — The ringgit opened higher against the US dollar, bolstered by Moody’s recent positive rating on Malaysia’s sovereign credit rating, an analyst said.

KUALA LUMPUR, Dec 20 — The ringgit opened nearly flat against the US dollar as the outcome of the two-day Federal Open Market Committee (FOMC) meeting and stronger US economic data are expected to remain supportive of the dollar, an economist said.

KUALA LUMPUR, Oct 29 — The ringgit rebounded to open slightly higher against the US dollar today, despite cautious sentiment ahead of next week’s United States (US) presidential election and the Federal Open Market Committee (FOMC) meeting.

KUALA LUMPUR, July 29 — The ringgit opened almost flat against the US dollar on Monday but the short-term outlook for the local currency remained promising as the anticipation of a United States rate cut gained momentum, an economist said.

KUALA LUMPUR, June 29 — The ringgit is likely to trade in a narrow range of RM4.70 and RM4.71 against the US dollar in cautious trading next week, even as the greenback may slacken following the softer United States Personal Consumption Expenditures (PCE) data announcement.

KUALA LUMPUR, May 21 — The ringgit retreated against the US dollar to open lower on Tuesday as the risk mood was dampened by cautious US Federal Reserve officials' comments.

KUALA LUMPUR, May 20 — The ringgit started trading slightly higher on Monday against the US dollar amid fresh optimism about the prospects of a September US Federal Reserve rate cut.

KUALA LUMPUR, May 2 — The ringgit opened a tad lower against the US dollar today after the US Federal Reserve (Fed) kept its benchmark interest rate unchanged.

KUALA LUMPUR, April 30 — The ringgit opened marginally lower against the US dollar today ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting which will begin tonight.

KUALA LUMPUR, March 15 — The ringgit traded higher against major currencies but was marginally lower against the US dollar at today’s opening on positive developments in United States (US) data.

KUALA LUMPUR, March 14 — The ringgit opened slightly higher today amid cautious trade as investors kept an eye on major developments, including the release of US February’s Producer Price Index (PPI) and Retail Sales which will be released tonight.