KUALA LUMPUR, Oct 23 — The ringgit is expected to trade in a tight range against the US dollar next week, given that the currency pair is nearing the overbought condition, an analyst said.
Meanwhile, OANDA Asia Pacific senior market analyst Jeffrey Halley said with the possible reopening for international tourism next month, the news should uplift the sentiment of investors next week. For the week just ended, the ringgit was mostly higher versus the US dollar except on Monday due to technical correction but strengthened thereafter, supported by higher commodity prices and positive economic prospects.
However, the local unit was traded lower against other major currencies compared to the previous Friday.
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