Ringgit to linger around RM4.67 to RM4.69; likely in range-bound trading on downside bias this week

( May 30, 2023 ) — LIM BENG TATT/The Star.

KUALA LUMPUR (Bernama): The Malaysian ringgit is expected to trade range-bound with a downward bias against the US dollar this week as the greenback continues to gain support from the Federal Reserve (Fed) hawkish stance on the United States (US) interest rate, an analyst said.

SPI Asset Management managing director Stephen Innes said the dollar will remain strong into October unless the US economic data, particularly the jobs and sales data, slides.