KUALA LUMPUR, Aug 31 — The ringgit is expected to trade higher against the US dollar next week on a sustained demand for the local currency. Bank Muamalat Malaysia Bhd chief...
The ringgit is expected to trade higher against the US dollar next week on a sustained demand for the local currency. — Picture by Hari AnggaraKUALA LUMPUR, Aug 31 — The ringgit is expected to trade higher against the US dollar next week on a sustained demand for the local currency.
He also noted that among the economic data to be monitored next week are Bank Negara Malaysia’s Monetary Policy Committee Meeting and the US’ non-farm payrolls. Meanwhile, AmBank Group said the ringgit could further strengthen moving forward and is unlikely to return last few weeks’ gains due to healthy fundamentals as well as in view of the US Federal Reserve’s move to start its interest rate cutting cycle.
Also, it noted that interest rate cut by the US Federal Reserve without the possibilities of the US economy to slip into recession would bode well for risk appetite and that should bring some allure for emerging market assets including ringgit denominated assets.
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