KUALA LUMPUR: The ringgit is expected to move towards its immediate support level of RM4.36 against the US dollar in the coming week, driven by optimi...
: The ringgit is expected to move towards its immediate support level of RM4.36 against the US dollar in the coming week, driven by optimism surrounding a less aggressive tariff trade approach by Donald Trump’s administration.
Trump also reportedly said that he expects Chinese President Xi Jinping to visit the US, although he did not provide a timeline for the trip. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid views the move positively, on top of Trump’s efforts to end the war in Ukraine.“However, several Federal Reserve officials are scheduled to speak at public forums, and their views on interest rate direction and US monetary policy could influence financial markets, including foreign exchange markets,” he told Bernama.The ringgit strengthened by 0.
It weakened against the British pound to 5.5851/5895 from 5.5769/5863 and slipped versus the Japanese yen to 2.9346/9371 from 2.9048/9099 last week.The ringgit also rose against most ASEAN currencies.
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