KUALA LUMPUR: The ringgit was firmer against the US dollar in early trade today on the back of weak sentiment for the safe-haven currency after the US Federal Reserve (Fed) raised interest rates amid the release of disappointing inflation data, dealers said. At 9 am, the local unit stood at 4.0690/0720 from 4.0850/0880 recorded at yesterday close. The central bank has projected higher interest rates outlook in the coming years with three more hikes each in 2018 and 2019. On the local front, a dealer said the improving global oil prices would continue drive the local unit higher today. It fell against the Singapore dollar to 3.0217/0248 from 3.0190/0219 on Wednesday and declined versus the yen to 3.6089/6125 from 3.6017/6053 yesterday.

Source: New Strait Times December 14, 2017 01:52 UTC