Ringgit to trade with slight appreciation bias this week

KUALA LUMPUR, Oct 3 (Bernama): The ringgit is expected to remain in a tight range with a slight appreciation bias this week as technical indicator suggests that the US Dollar Index is in the midst of an overbought position.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit was likely to trade between 4.17 and 4.18 next week against the US dollar.