KUALA LUMPUR, Aug 26 — The ringgit was flat against the US dollar at the close today as cautious sentiment clouded the market, ahead of a key speech by US Federal Reserve (Fed) chairman Jerome Powell tomorrow.
At 6pm, the local currency was quoted at 4.1680/1720 against the greenback from 4.1680/1710 yesterday.
A dealer said investors would monitor the outcome of the Jackson Hole Symposium, during which Powell is expected to reveal the key conclusions of the Fed’s framework review.
“For now, investors are refraining from taking risky bets ahead of the speech,” he added.
Meanwhile, the ringgit was traded mostly lower against other major currencies, except against the euro, where it rose to 4.9249/9301 from 4.9291/9343 yesterday.
The local note declined against the Singapore dollar to 3.0472/0513 from 3.0443/0467 yesterday, fell against the yen to 3.9213/9262 from 3.9184/9223 and was lower against the British pound to 5.4784/4853 from 5.4647/4703 previously. — Bernama
