KUALA LUMPUR, Oct 14 — The ringgit is expected to remain easier next week, trading in the RM4.72-RM4.74 range against the US dollar. SPI Asset Management managing partner...
KUALA LUMPUR, Oct 14 — The ringgit is expected to remain easier next week, trading in the RM4.72-RM4.74 range against the US dollar.
SPI Asset Management managing partner Stephen Innes said the market stance is that the Federal Reserve is expected to continue its “higher for longer” policy, with interest rates to remain elevated for an extended period.“I believe the dollar will continue to be in demand due to its distinctive safe-haven qualities and its yield advantage over the ringgit.
“However, because the market is currently positioned in favour of the dollar, traders may adopt a cautious approach and observe how US bond yields will evolve in the coming week and also monitor the developments in the Middle East crisis,” he told Bernama.On a Friday-to-Friday basis, the ringgit weakened against the US dollar to 4.7260/7305 from 4.7115/7155 a week earlier.It depreciated vis-à-vis the British pound to 5.7615/7670 from 5.
The local note traded unchanged against the Philippine peso at 8.32/8.33 as per last week’s close. — Bernama
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