KUALA LUMPUR: The ringgit is projected to trade between 4.41 and 4.42 against the US dollar this week, according to an analyst.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the tremor from the United States tariff shock would continue to reverberate, leading traders and investors to adopt a defensive stance.
“I sense that market participants will be searching for more clues on whether the US Federal Reserve would ease the monetary policy beyond half a point cut as indicated in their March projection.
“Against such a backdrop, the US Consumer Price Index for March will be closely scrutinised this Thursday.
“At the current juncture, the current support and resistance level lies at 4.3634 and 4.4463 for the ringgit-US dollar,” he told Bernama.
Meanwhile, SPI Asset Management managing director Stephen Innes expects the ringgit to move around 4.42 to 4.45 versus the greenback this week.
