Ringgit slightly up versus US dollar despite market uncertainty

KUALA LUMPUR - The ringgit opened slightly higher against the US dollar on Wednesday, despite market uncertainty over the US Federal Reserve’s (Fed) upcoming interest rate decision, dealers said.

At 9 am, the local note appreciated to 4.4040/4100 versus the greenback from Tuesday’s close of 4.4050/4084.

SPI Asset Management managing partner Stephen Innes told Bernama that the old problems going into the new year continued to influence the broader markets, specifically uncertainty around the Fed’s terminal rate and whether the world would fall into a recession. - BERNAMA