Ringgit Retreats On Profit-taking As Hopes For Another Oversized US Interest Rate Cut Fade
KUALA LUMPUR, The ringgit closed lower against the US dollar on Tuesday on profit-taking after recent sharp gains, in line with other regional currencies, as the United States signalled a lower interest rate cut going forward. At 6 pm, the ringgit traded at 4.1530/1610, down from Monday’s close of 4.1210/1280. Bank Muamalat Malaysia Bhd chief…