Ringgit expected to be range-bound next week

KUALA LUMPUR, Oct 24 (Bernama): 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 heightened uncertainty over the US fiscal stimulus bill, which was likely to be passed only after the presidential election on Nov 3; and perhaps the process might drag until early next year.