KUALA LUMPUR, Aug 3 — The ringgit is likely to strengthen well below 4.55 against the US dollar next week, said Kenanga Investment Bank Bhd. In its ringgit weekly outlook,...
Harris makes history as first Black and South Asian woman to secure Democratic nomination, set to face Trump in NovemberThe ringgit is likely to strengthen well below 4.55 against the US dollar next week, said Kenanga Investment Bank Bhd . — Picture by Sayuti ZainudinKUALA LUMPUR, Aug 3 — The ringgit is likely to strengthen well below 4.55 against the US dollar next week, said Kenanga Investment Bank Bhd .
“This may continue to pressure the US Dollar Index downward and potentially strengthen the ringgit to trade well below 4.55 against the US dollar,” it said. “All this points to a narrowing in the interest rate differentials between the Fed Fund Rate and overnight policy rate. The data showed an increase in the unemployment rate to 4.3 per cent, exceeding economists’ expectations.
“However, a sharp strengthening might cause a short-term correction. Nevertheless, we do not anticipate this happening in the near term as the ringgit has just begun its recovery,” he said.
Forecast Kenanga Investment Bank Bhd
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