Ringgit eases further as risk-off mode remains after Fed’s minutes

KUALA LUMPUR: The ringgit ended at its lowest since early January 2017 against the US dollar as risk-off sentiment gathered pace after the US Federal Reserve’s July meeting minutes suggested that the trend toward higher interest rates would continue.

The Fed said inflation remains high despite aggressive rate hikes, reaffirming its plans to continue raising interest rates to combat elevated inflation.