KUALA LUMPUR, March 15 ― The ringgit has extended its uptrend against the US dollar this morning in anticipation of softer interest rate hikes in the United States , after the latest US inflation data showed a declining trend.
ActivTrades trader Dyogenes Rodrigues Diniz said the US Consumer Price Index reading for February was exactly as expected at 6.0 per cent, below January’s reading of 6.4 per cent. Meanwhile, Bank Muamalat Malaysia Bhd chief economist and social finance, Dr Mohd Afzanizam Abdul Rashid opined that the latest inflation print left the Federal Reserve in a pickle.
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