KUALA LUMPUR, Sept 18 — The ringgit ended marginally lower against the US dollar on cautious sentiment ahead of the conclusion of the US Federal Open Market Committee later today.
At 6pm, the ringgit slipped to 4.1820/1860 against the US dollar from 4.1810/1850 on Tuesday.
A dealer said traders remained on the sidelines but cautiously optimistic that the US Federal Reserve would cut it benchmark rate by 25 basis point at the meeting.
“While easing at the September meeting is seen as a near-certainty, the deep divide among the US Federal Reserve policymakers on further monetary stimulus has kept investors on the sidelines,” he said.
The ringgit was also lower against a basket of other major currencies.
It declined against the Singapore dollar to 3.0423/0464 from 3.0345/0379 at Tuesday’s close and depreciated against the Japanese yen to 3.8640/8688 from 3.8624/8671.
The local unit contracted versus the British pound to 5.2116/2174 from 5.1840/1907 and narrowed against the euro to 4.6199/6259 from 4.6058/6115. — Bernama