American central bank takes cautious approach to monetary policy. 

Local currency is expected to trade near 4.6611 support level.

Analyst says traders considering possibility of US Fed cutting interest rates for non-recessionary reasons.

Local note likely to move towards immediate support level of 4.6611 against the US dollar.

Latest data cements view that US rate hikes are over.

Greenback gets boost from US retail data. 

Local currency rises to as high as 4.6565 before settling at 4.6695.

Core CPI moderates further to 4% in October from high of 6.6% in September.

This follows Fed chairman’s hawkish statement regarding monetary policy. 

Markets are wary of future changes to US Fed Funds Rate.

Anwar Ibrahim says local, regional currencies’ developments driven by external factors.

Analysts believe US interest rate hike cycle is ended for 2023. 

Local note recovers against dollar, major banks keep interest rates unchanged.  

Local currency expected to stay within narrow range versus greenback.

Investors await Bank of Japan’s and Fed’s policy decisions.