Ringgit to trade with upside bias vs the dollar from Monday (April 17) onwards; to trade between 4.3750 to 4.4000

The ringgit is expected to trade with upside bias against the US dollar this week, moving in the range of 4.3750 to 4.4000, an analyst said.

SPI Asset Management managing director Stephen Innes said the greenback is expected to trade off the back foot in the future on heightened expectations of a pause to the United States Federal Reserve’s rate-hike cycle amid signs of cooling inflation.

"Perhaps the only reason the ringgit is not trading stronger is a combination of a lethargic local equity markets and an uptick in US-China tensions over Taiwan,” he told Bernama. On a week-on-week basis, the ringgit was traded lower against the US dollar at 4.4000/4025 against Friday’s close of 4.3995/4035 a week earlier.

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