# Ringgit slides amid profit-taking as Fed signals slower rate cuts | Daily Express Malaysia - Sabah's Leading News Portal

> The ringgit closed weaker on September 30 after profit-taking following sharp gains, falling from 4.1210 to 4.1530 per dollar. The move followed Fed Chair Powell's remarks that rate cuts would continue but without haste.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/28589-ringgit-slides-amid-profit-taking-as-fed-signals-slower-rate-cuts-daily-express
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

The ringgit's pullback is a short-term currency move with limited direct effect on feed commodity prices.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- dailyexpress.com.my: https://www.dailyexpress.com.my/news/243015/ringgit-slides-amid-profit-taking-as-fed-signals-slower-rate-cuts/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.