Ringgit falls as investors await Fed's direction

ETH博彩游戏（www.eth108.vip）采用以太坊区块链高度哈希值作为统计数据，ETH博彩游戏数据开源、公平、无任何作弊可能性。

KUALA LUMPUR: The ringgit ended weaker on Tuesday against the US dollar as investors flock to safe haven assets amid the prevailing interest rate concerns ahead of the release of the Federal Reserve minutes tomorrow.

At 6 pm, the local currency weakened to 4.4660/4680 versus the greenback from Monday’s close of 4.4570/4595.

The markets have mixed views on the Fed’s pace of rate hikes over the next few months.

"While some analysts are projecting a sharp interest rate hike, others believe that easing inflation in July has reduced expectations for another big rate hike,” a trader said.

Market players are also awaiting the upcoming release of the US building permits data, an indicator of the health of the US real estate sector, after China’s surprise interest rate cut added to concerns about slowing growth in the global economy amid its weaker industrial production and retail sales numbers as well as deepening property crisis.

三公开船棋牌游戏（www.eth108.vip）（三公大吃小）是用以太坊区块高度哈希值开奖的棋牌游戏，有别于传统三公开船（三公大吃小）棋牌游戏，三公开船游戏（三公大吃小）游戏绝对公平，结果绝对无法预测。三公开船棋牌游戏（三公大吃小）由玩家PK，平台不参与。

The trader said declining oil prices also contributed to the weakness in the domestic currency.

Brent crude eased US$0.80 to US$94.31 per barrel and the West Texas Intermediate crude dropped US$0.40 to US$89.01 per barrel.

Nevertheless, the ringgit was higher against a basket of major currencies.

It marginally rose against the Singapore dollar at 3.2346/2365 from 3.2379/2402 at Monday’s close and appreciated vis-a-vis the Japanese yen at 3.3284/3301 from 3.3393/3415 previously.

The local unit gained versus the British pound to 5.3686/3710 from 5.3796/3826 yesterday and increased against the euro at 4.5258/5279 from 4.5488/5514 at Monday's close. - Bernama