Ringgit expected to trade between RM4.06 and RM4.08 against US dollar next week
The ringgit is expected to trade in a tight range of RM4.06 to RM4.08 against the US dollar next week, according to Bank Muamalat chief economist Dr Mohd Afzanizam Abdul Rashid. He said investors are cautious ahead of monetary policy meetings by the US Federal Reserve and the Bank of Japan, with both central banks expected to raise rates by 25 basis points. The ringgit weakened against a basket of major and Asean currencies over the past week.