Ringgit likely to trade range-bound with upside bias versus US dollar from Tuesday (Feb 12) onwards

KUALA LUMPUR (Bernama): The ringgit is expected to trade range-bound amid in a cautious mode, hovering around the RM4.76 level with an upside bias against the US dollar this week, said an analyst.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit had been in an oversold position for some time and a long overdue technical correction is expected to emerge to lift the currency slightly higher.