The ringgit is expected to remain weak although further downside risks could be limited as the currency is already at an oversold position.
KUALA LUMPUR: The ringgit slipped further against the US dollar at the opening today as the greenback remained firm amid persistent uncertainties surrounding the US-China trade conflict.
Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit is expected to remain weak although further downside risks could be limited as the currency is already at an oversold position. “However, trade conflict remains fluid and we have yet to see another round of retaliation from China. All eyes will be on the Chinese yuan and how it will fare at the current juncture,” he told Bernama.
While the company is still prohibited from doing business with most US companies, it is allowed to continue using critical product support.
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