With all eyes on crude oil prices.
He said crude oil price is the real wild card for the moment with benchmark Brent crude oil price trading below US$39 per barrel on Friday.
"However, I think regardless of oil prices, Asian currencies like the ringgit with a strong correlation to the Yuan will hold up relatively well as I do not think the US dollar is a safe bet in this environment,” he told Bernama, anticipating the ringgit to trade between 4.15 and 4.17 next week. He said the lack of a US stimulus package bill was a major risk aversion trigger for Asian currencies but more idiosyncratic to the ringgit was the fallout from the US banning imports of palm oil from FGV Holdings Bhd due to apparent labour issues.
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