Ringgit opens flat against USD on wait-and-see mode
KUALA LUMPUR - The ringgit opened flat against the US dollar today as investors opted for a wait-and-see attitude on the latest economic assessment by the US Federal Open Market Committee (FOMC) meeting, an analyst said.
At 9 am, the local currency stood at 4.4190/4225 versus the greenback from Tuesday's close of 4.4190/4220.
US FOMC members will deliberate on their decision at their two-day meeting beginning Tuesday.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the markets appear to be expecting 75 basis points hike in the Fed Fund Rate in the current FOMC meeting session which will be announced tonight. - Bernama