KUALA LUMPUR, June 28 (Bernama): The ringgit is expected to trade in an upward trajectory next week, riding on favourable market risk and improved oil prices, said AxiCorp global chief market strategist Stephen Innes.
He said the ringgit would move between 4.27 and 4.30 against the US dollar next week amid better inflows of foreign direct investment into the country as international multinationals were diversifying their production bases from China to new destinations.
"Plus, the Statistics Department’s call for Malaysia to realign its focus towards investments in high-potential industries such as healthcare, medical supplies and pharmaceuticals will be interesting to the market and attract more foreign investments into the country in these fields. The ringgit ended slightly lower against the greenback to 4.2890/2930 on Friday from 4.2670/2730 recorded a week earlier.
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