Fed meeting and Gulf risks cap ringgit gains
Performance: MYR traded broadly flat around 4.09/USD as geopolitical risks offset softer US inflation expectations.
Market Dynamics: Renewed Middle East tensions and fresh threats to Red Sea shipping kept energy prices elevated, underpinning the USD. The ringgit traded largely sideways around 4.09/USD as softer US inflation continued to temper broader dollar gains. Markets increasingly priced a higher probability of the Fed staying restrictive for longer amid renewed energy-driven inflation risks. Investors held defensive USD positions while awaiting greater clarity on geopolitics and Fed policy.
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