Ringgit likely to move between 4.12 and 4.16 against US dollar this week

KUALA LUMPUR, May 23 (Bernama): The ringgit is likely to move lower between 4.12 and 4.16 against the US dollar this week given the pressure by the rising COVID-19 cases in the country and lack of positive catalysts.

OANDA senior market analyst Jeffrey Halley said although the US dollar would also likely weaken, the ringgit is expected be influenced more by sentiments and short-term flows of funds as opposed to data performances.