Ringgit expected to be range-bound next week | Malay Mail

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KUALA LUMPUR, Oct 24 — The ringgit is projected to trade within a tight range next week with a bias towards on the weaker side as the US dollar is likely to strengthen further. Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the greenback had gained strength following the...

On a Friday-to-Friday basis, the ringgit eased against the US dollar to 4.1500/1600 from 4.1470/1520 in the previous week. — Reuters pic

Concurrently, the US Dollar Index has risen from as low as 92.611 as of Oct 21 to around 93.031 currently. In addition, the market will also be closely monitoring major economic releases out of some of the world’s largest economies over the coming days, such as the third-quarter Gross Domestic Product figures for the United States and European Union, as well as China’s September industrial profits, which may colour some of the market decisions.

 

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