Ringgit weakens against US dollar

KUALA LUMPUR (June 13): The ringgit opened lower against the US dollar for the third day running with traders expected to remain defensive throughout today’s session as the market awaits the outcome of the Federal Open Market Committee (FOMC) meeting today.

The FOMC is expected to announce its decision on the US interest rate today after its two-day meeting ended on Wednesday.

At 9.07am, the ringgit was quoted at 3.9930/9970 against the greenback from Tuesday’s closing of 3.9880/9910.