KUALA LUMPUR, Jan 4 — The ringgit is expected to be traded under pressure following rising geopolitical uncertainties in the Middle East. An analyst said the ringgit has shown a strong upward momentum for the start of 2020 before slipping, and is expected to continue the reverse mode in line with...
For the week just-ended, the ringgit ended higher against the US dollar at 4.1005/1035 compared with last Friday’s 4.1260/1290. — Reuters pic
“Oil prices are expected to be on an upward momentum in the coming weeks, but the geopolitical sentiment would drag down business confidence. With Iran vowing to retaliate, we expect that the situation would escalate faster than expected. According to data by MIDF, Malaysia’s total trade declined for the sixth consecutive month with the latest drop in November 2019 at -4.6 per cent year-on-year amid slowing global demand and trade spats.
Following the strike, a circular from the US State Department urged American citizens in Iraq to leave at once in view of the risk they face following the attack.
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