THE ringgit settled higher against the US dollar today after a drop in the US 10-year Treasury yield which provided hope of easing inflation.

At 6pm, the ringgit rose to 4.7750/7800 against the greenback from yesterday’s close of 4.7855/7885.

The Federal Reserve’s preferred inflation gauge – Core Personal Consumption Expenditures (PCE) Price Index – will be released later tonight, an analyst said.

The market forecasts the print to rise 0.3% month-on-month.

At home, the ringgit was mostly higher versus a basket of major currencies.

The ringgit edged up against the Japanese yen to 3.1827/1862 from 3.1838/1860 at the close on Thursday, increased against the euro to 5.0438/0491 from 5.0468/0500, but weakened versus the British pound to 5.7945/8005 from 5.7847/7883 yesterday.

The local note was traded mostly higher against other Asean currencies.

It rose against the Singapore dollar to 3.4867/4906 from 3.4900/4925 yesterday, strengthened against the Thai baht to 13.1808/2008 from 13.1952/2097, was higher versus the Philippine peso at 8.38/8.39 from 8.40/8.41 and was better vis-a-vis the Indonesian rupiah at 299.5/300.0 from 300.5/300.9. – Bernama, October 27, 2023.