Ringgit Stems Slide as Dollar Demand Wanes With Fed Looming
- Market locking in profits from dollar rally: Macquarie
- Malaysia looking at more stimulus for economy: minister
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Malaysia’s ringgit halted its longest losing streak in eight months as demand for the dollar waned, with investors looking to the Federal Reserve’s meeting to assess when policy makers will raise interest rates.
The ringgit climbed 0.1 percent to 4.0640 against the greenback in Kuala Lumpur after falling as much as 0.6 percent earlier, according to prices from local banks compiled by Bloomberg. The currency declined 2.9 percent in the previous six sessions. The Bloomberg Dollar Spot Index dropped 0.3 percent before the Federal Reserve Open Market Committee starts its two-day policy meeting in Washington Tuesday.