KUALA LUMPUR, July 16 — The ringgit is likely to continue its losing streak against the US dollar next week, as the greenback is expected to stay dominant amid mounting inflation...
KUALA LUMPUR, July 16 — The ringgit is likely to continue its losing streak against the US dollar next week, as the greenback is expected to stay dominant amid mounting inflation jitters.
“The big risk event for the global market is whether Nord Stream 1 gas flow to Europe resumes on July 22. If it does, the risk will improve dramatically and the ringgit should rally. For the week just ended, the ringgit was traded mostly lower, hitting its lowest since March 2020 on the US dollar’s strength amid recession worries after the US reported inflation hitting a 40-year high last month.
At home, the ringgit fell against the greenback at 4.4480/4505 on Friday, compared with 4.4250/4270 a week earlier.
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