Ringgit to trade with upward bias versus US dollar next week; best level said to be at RM4.54

KUALA LUMPUR, June 4 (Bernama): The ringgit is expected to trade in cautious mode with an upward bias against the US dollar this week ahead of a decision by the United States Federal Reserve (Fed) on its monetary policy.

Bank Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid said the US dollar/ringgit might move cautiously as the Fed is expected to be guarded in its assessment at the upcoming the Federal Open Market Committee (FOMC) meeting on June 13-14.