Ringgit likely to move range-bound against US dollar

Last Friday, the May contract for Brent crude rose almost 3.4% to trade at US$64.86 (RM269) per barrel.

KUALA LUMPUR: The ringgit is likely to move range-bound with a downside risk next week of between 4.1350 and 4.1470 amid potentially better oil prices and concern over a slower economic recovery.

An analyst said the stable demand for oil in the past week may accelerate following data which showed an increased of air travelling activities, mainly from two major consumers, the United States and China.