Ringgit Weakened in Feb
The ringgit showed little movement against the US dollar amid a lack of significant market drivers. Ahead of the Federal Open Market Committee (FOMC) meeting, where the Federal Reserve’s stance is anticipated, the US Dollar Index remains steady.
Market participants are cautious, awaiting the outcome of the FOMC meeting on June 12. Against other major currencies, the local currency traded mixed, strengthening against the Japanese yen but weakening against the British pound and euro.
It also slipped against ASEAN peers, including the Philippine peso, Singapore dollar, Indonesian rupiah, and Thai baht.
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