{"id":118314,"date":"2024-09-19T19:32:48","date_gmt":"2024-09-19T18:32:48","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118314"},"modified":"2024-09-21T15:08:25","modified_gmt":"2024-09-21T14:08:25","slug":"109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed\/","title":{"rendered":"USD\/MYR: Malaysian Ringgit rises to a 28-month high post-Fed"},"content":{"rendered":"<ul>\n<li><strong>Malaysia Ringgit (MYR) rises for a third day<\/strong><\/li>\n<li><strong>BNM is expected to leave rates unchanged at 3%<\/strong><\/li>\n<li><strong>US Dollar (USD) falls against major peers<\/strong><\/li>\n<li><strong>Fed cut rates by 50 bps<\/strong><\/li>\n<\/ul>\n<p>The US Dollar Malaysian Ringgit (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-usd-to-myr-exchange-rate-today\/\">USD\/MYR<\/a>) exchange rate is falling for a third straight day. The pair fell 0.24% lower in the previous session, settling on Wednesday at 4.2440. At 21:00 UTC, USD\/MYR trades -0.8% at 4.21 and is in a range of 4.2070 to 4.2675.<\/p>\n<p>The Malaysian Ringgit soared to a 28-month high against the greenback, retaining its position as one of the top-performing currencies in the region.<\/p>\n<p>The Ringgit is benefitting from diverging monetary policy outlooks, with the Bank Negara Malaysia (BNM) likely to maintain its rate at 3% for the year.<\/p>\n<p>The Ringgit also rose against a basket of currencies, including the pound, the yen, and the Singapore dollar.<\/p>\n<p>The US Dollar is falling across the board. The US Dollar Index, which measures the greenback versus a basket of major currencies, trades at 100.69 at the time of writing, down 0.33% after two days of gains.<\/p>\n<p>The US dollar is falling lower as the market continues to weigh up the Federal Reserve&#8217;s September interest rate decision. The US central bank announced that it will start its rate-cutting cycle with a bumper 50 basis point cut.<\/p>\n<p>Meanwhile, the Federal Reserve dot plot, which lays out policymakers&#8217; expectations for future rate cuts pointed to a further two 25 basis point rate cuts this year, one most likely in November followed by another in December<\/p>\n<p>Meanwhile, the market is pricing in around 75 basis points of cuts this year but still expects the US economy and the Federal Reserve to achieve a soft landing<\/p>\n<p>US Federal Reserve chair Jerome Powell insisted that the Fed was not behind with rate cuts and said that the US economy remains strong.<\/p>\n<p>On the data front, US jobless claims were stronger than expected, easing to 219,000, down from 230,000 in the previous week.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Malaysia Ringgit (MYR) rises for a third day BNM is expected to leave rates unchanged at 3% US Dollar (USD) falls against major peers Fed cut rates by 50 bps The US Dollar Malaysian Ringgit (USD\/MYR) exchange rate is falling for a third straight day. The pair fell 0.24% lower in the previous session, settling [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5262,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[3718,1398,3282],"class_list":{"0":"post-118314","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usd","8":"tag-myr","9":"tag-usd","10":"tag-usd-myr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/MYR: Malaysian Ringgit rises to a 28-month high post-Fed - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"USD\\\/MYR: Malaysian Ringgit rises to a 28-month high post-Fed\",\"datePublished\":\"2024-09-19T18:32:48+00:00\",\"dateModified\":\"2024-09-21T14:08:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed\\\/\"},\"wordCount\":329,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100847-gbp-usd-growth-forecast-trimmed.jpg\",\"keywords\":[\"myr\",\"usd\",\"usd\\\/myr\"],\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109261-usd-myr-malaysian-ringgit-rises-to-a-28-month-high-post-fed\\\/\",\"name\":\"USD\\\/MYR: Malaysian Ringgit rises to a 28-month high post-Fed - 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