Kenanga expects ringgit to trade closer to 4.40 level by year-end

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Kenanga expects ringgit to trade closer to 4.40 level by year-end
RinggitKenanga Investment BankUS Fed
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Jennie's agency, OA Entertainment, announced Monday that the star had signed on with Columbia Records, a major American record label under Sony Music Entertainment.

expects the ringgit to trade closer to 4.40 by year-end, based on emerging signs which suggest the United States Federal Reserve may cut its rate by only 50-75 basis points this year.In a note today, it said that the sentiment could lead to a US dollar rebound in the fourth quarter of 2024.

Last Friday’s key US jobs data continued to keep the market guessing whether the Fed will cut the rate by 25 or 50 basis points in September, with the probability of the latter dropping back to 30.0 per cent. "However, upside risks to inflation, arising from changes in government policies and external risks, especially geopolitical tensions, remain. Undoubtedly, BNM will stay vigilant and ready to respond if necessary,” it said.

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Ringgit Kenanga Investment Bank US Fed Rate Cut US Dollar Bank Negara Malaysia

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