Ringgit may breach RM4.50 level against the greenback

Maybank Group’s regional head of FX Research and strategy Saktiandi Supaat, said there are risks of the US dollar strenghtening should inflation numbers roar ahead and in turn, creating the expectation that the US Federal Reserve’s (Fed) rate hikes may be aggressive in September.

PETALING JAYA: The ringgit could breach the RM4.50 level against the greenback on concerns over domestic political issues ahead of the 15th General Election (GE15) and further US dollar strengthening.

The ringgit closed the trading week at RM4.45 against the US dollar as the greenback weakened despite US initial jobless claims data showed its job market remained strong.