# Ringgit Opens Lower Against US Dollar Amidst Profit-Taking, Caution Ahead Of Fed Chairman's Remarks - BusinessToday

> The ringgit opened lower on December 1 as traders took profits after recent gains and awaited remarks from Fed Chair Jerome Powell. The article notes that the Fed's preferred inflation gauge, PCE, fell to 3% in October and core PCE to 3.5%.

- Date: 2023-12-01 · published 2023-12-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32992-ringgit-opens-lower-against-us-dollar-amidst-profit-taking-caution-ahead-of-fed
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Routine intraday currency moves ahead of Fed speeches have little direct effect on feed commodity prices, though the inflation data points to possible easing that could weaken the dollar.

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2023/12/01/ringgit-opens-lower-against-us-dollar-amidst-profit-taking-caution-ahead-of-fed-chairmans-remarks/

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