The ringgit opened marginally lower against the US dollar today on the expectation of a pause in the United States Federal Reserve’s Fund Rate in the next meeting on May 2-3, 2023.
The expectation was premised on the US employment data, which came in higher than expected (228,000 real against 200,000 forecast), said an analyst.
At 9.02am, the local note fell to 4.4000/4050 versus the US dollar from yesterday’s closing rate of 4.3950/4010.
