Ringgit firms against major currencies, slips vs US dollar
The Malaysian ringgit appreciated against most major currencies except the US dollar, closing at 4.2250/2290 on Wednesday. Market sentiment remained cautious ahead of the release of the US Federal Open Market Committee (FOMC) meeting minutes and comments from senior US central bank officials. Economists suggest the Fed may continue to focus on inflation despite a weakening labor market. The ringgit strengthened against the euro, British pound, Singapore dollar, Thai baht, and Indonesian rupiah, but weakened against the Japanese yen, US dollar, and Philippine peso.