RM revisit RM4.19 against USD, expected to be RM4.07
The ringgit revisited the RM4.19 level against the US dollar today, with immediate support expected at RM4.07, driven by Malaysia’s lower-than-forecasted CPI increase of 1.9 per cent and a 50 basis point interest rate cut by the US Federal Reserve. At 8 am, the local note traded at 4.1995/2055 versus the greenback from Monday’s close…