The ringgit ended marginally higher against the US dollar today, supported by softer-than-expected United States (US) inflation data and reduced expectations of a near-term rate hike. — Picture by Yusof Mat Isa First Published: Thursday, 16 Jul 2026 6:38 PM MYT KUALA LUMPUR, July 16 — The ringgit ended marginally higher against the US dollar today, supported by softer-than-expected United States (US) inflation data and reduced expectations of a near-term rate hike.At 6pm, the local currency appreciated to 4.0710/0745 against the greenback, compared with Wednesday’s close of 4.0760/0805.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said Asian currencies were generally firmer against the US dollar as expectations of a US rate hike receded.“Both the US Consumer Price Index and Producer Price Index came in lower than expected in June, following a decline in crude oil prices during the month.“In addition, the US Federal Reserve (Fed) chair’s remarks to the Senate Banking Committee last night suggested that the Fed is not in a hurry to raise the federal funds rate,” he told Bernama.However, the ringgit traded mostly lower against a basket of major currencies at the close today.It weakened versus the British pound to 5.4987/5034 from 5.4578/4638 at Wednesday’s close and declined vis-a-vis the euro to 4.6678/6718 from 4.6536/6587 previously, although it edged higher against the Japanese yen at 2.5102/5125, compared with 2.5103/5132 yesterday.Similarly, the local note performed mostly weaker against regional currencies.It eased versus the Singapore dollar to 3.1583/1612 from 3.1546/1583 at the close on Wednesday, depreciated against the Indonesian rupiah to 226.3/226.6 from 225.5/225.9 yesterday, and slipped vis-a-vis the Thai baht to 12.1247/1399 from 12.1198/1371 previously.Meanwhile, it strengthened against the Philippine peso to 6.60/6.61 from 6.61/6.62 yesterday. — Bernama