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Ringgit seen to trend around 4.77 to US dollar this week as greenback maintains its strength

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Ringgit News

US Dollar,Outlook,Stephen Innes

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KUALA LUMPUR : The ringgit is expected trend around 4.77 to a US dollar this week as the greenback maintains its strength, and as market continues diminishing the expectations of interest rate cuts particularly in the United States .

He said this anticipation of central bank synchronicity could dampen the momentum of the strong US dollar in the coming days. "However, it is likely that the Fed will wait to gauge US employment data and the next series of consumer price index figures before committing to a fully hawkish stance,” Innes told Bernama.

On a Friday-to-Friday basis, the ringgit traded higher to 4.7650/7710 versus the greenback from 4.7810/7855 a week earlier.

 

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