As opposed to the previous outlook of RM4.19–RM4.21 against the US dollar. Forex Ringgit
According to group chief economist and head of research Anthony Dass, the ringgit could touch RM4.05–RM4.10 by end-2019 as opposed to the research unit’s previous outlook of RM4.19–RM4.21 against the US dollar.“However, should adverse noise emerge especially on trade news, it could see the ringgit easing back to the RM4.15–RM4.19 levels and the yuan to hover between 7.03 and 7.06, ” he added.
He pointed out that the risk sentiment would still depend on whether the US removed the September levies; and the US played hard ball and expressed an unwillingness to shift on the levies.Firstly, there is the improving US-China trade deal risk tone. The ringgit trades closely as a proxy for the Chinese yuan and the yuan has strengthened to below 7.00 against the US dollar on the trade deal optimism, and this has given the ringgit a boost.
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