Ringgit likely to trade range-bound against US dollar

KUALA LUMPUR: The ringgit is expected to trade within a tight range of between 4.18 and 4.19 against the US dollar this week.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the geopolitical risks and concern over a sharp increase in the United States Federal Reserve fund rate would dictate the currency market’s sentiments next week.