Ringgit opens higher against dollar | The Malaysian Insight

Ringgit opens higher against dollar

The ringgit has rebounded to open higher against the US dollar today as investors await more clues on the pace of inflation in America, an analyst says. – The Malaysian Insight file pic, April 12, 2023.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said market participants would synthesise their views on the US rates based on the highly anticipated US CPI print. Mohd Afzanizam said this represents a 0.1 percentage point cut from January’s forecast, attributed to the stubbornly high inflation as well as the recent financial sector turmoil that could undermine the baseline scenario for a soft landing.

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