Ringgit is expected to trend higher this week; positive effects of China’s domestic stimulus and US Fed policy stance

KUALA LUMPUR (Bernama): The ringgit is expected to trend higher this week following the positive effects of China’s latest domestic stimulus and a pivot in the US Federal Reserve’s (Fed) policy stance, said SPI Asset Management managing partner Stephen Innes.

He said the ringgit should rally more on the "Great Monetary Pivot of 2024”, especially when combined with China’s recent move to infuse a record amount of cash into its economy.