Ringgit likely to weaken against US dollar next week

KUALA LUMPUR, June 5 (Bernama): The ringgit is likely to weaken to the 4.13 level against the US dollar next week as the American economy recorded higher employment figures in May, said an analyst.

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the domestic unit was further weighed by the move taken by US President Joe Biden to restrict American investments in 59 Chinese companies with alleged ties to the country's military and surveillance efforts.