The ringgit has returned to the RM4.19 level against the US dollar today, with immediate support anticipated at RM4.07. This movement follows Malaysia’s lower-than-expected Consumer Price Index (CPI) increase of 1.9% and a recent 50 basis point interest rate cut by the US Federal Reserve.
As of 8 a.m., the local currency was trading at 4.1995/4.2055 compared to Monday’s close of 4.2000/4.2060.
