KUALA LUMPUR: The ringgit will likely extend its downward momentum against the US dollar next week as the weaker external environment amid heightened concerns over the COVID-19 outbreak will curb investors risk appetite, dealers said.
A dealer said the ringgit would likely move in a tight range of between 4.1650 and 4.1850, and the downside to below 4.20 is not seen for now due to the latest Bank Negara Malaysia’s (BNM) overnight policy rate (OPR) cut, which has boosted the demand for the ringgit.
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