At 9am, the local note stood at 4.2100/2135 against the greenback from 4.2100/2150 at Friday’s close.

Bank Islam Malaysia chief economist Afzanizam Abdul Rashid said all eyes would be on the FOMC meeting, where the US Federal Reserve (Fed) will share its latest quarterly forecast.

“In the third quarter of 2021, the Fed revised up its 2022 gross domestic product and the core personal consumption expenditure inflation to 3.8% and 2.3% respectively,” he told Bernama.

As such, he expects the ringgit to trade in a narrow range of between RM4.21 to RM4.22 today.

At the opening bell, the ringgit was traded lower against other major currencies.

The local note depreciated against the euro to 4.7607/7646 from 4.7497/7554 at Friday’s close and fell against the Singapore dollar to 3.0865/0895 from 3.0815/0854, eased versus the Japanese yen to 3.7083/7117 from 3.7034/7081, and declined against the British pound to 5.5791/5837 from 5.5576/5642 previously.