Ringgit likely to strengthen well below 4.55 against US dollar next week

Gaining ground: An analyst from a local think tank says Malaysians should gain on many fronts from a stronger ringgit.

KUALA LUMPUR: The ringgit is likely to strengthen well below 4.55 against the US dollar next week, said Kenanga Investment Bank Bhd.

In its ringgit weekly outlook, Kenanga Investment Bank said the optimistic outlook is driven by a combination of factors, including a limited negative impact on the British pound from the Bank of England's recent rate cut and ongoing signs of a United States (US) economic slowdown.