Ringgit poised for technical correction against US dollar this week; to trade between RM4.15 to RM4.16

KUALA LUMPUR, Oct 17 (Bernama): The ringgit is expected to experience some technical correction in the coming days, trading in the range of RM4.15 to RM4.16 against the US dollar during the holiday-shortened week, an analyst said.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit, which was traded higher for six straight days before retreating on Friday, could see further correction as investors may want to cash in some gains.