Ringgit likely to extend downtrend this week; resistant levels to stay RM4.66 to RM4.67

KUALA LUMPUR, June 25 (Bernama):The ringgit is anticipated to continue to slide against the US dollar from Monday (June 26) onwards as global economic uncertainty contributes to volatility in the emerging currency market, including the ringgit.

Mohd Afzanizam Abdul Rashid, chief economist and social finance head at Bank Muamalat Malaysia Bhd, emphasised that the surprise 50 basis point hike by the Bank of England as well as a hawkish stance by the United States Federal Reserve (Fed) would persist for the time being.