Ringgit’s outlook: Sunny with some clouds

IF there is anything clouding the ringgit’s outlook or that of any currency, it is the lack of forward guidance from the US Federal Reserve (Fed) under newly appointed chairman Kevin Maxwell Warsh, who presided over his first Federal Open Market Committee (FOMC) meeting over June 17 to June 18.

There is acknowledgement to the commitment to its dual mandate of price stability and ensuring maximum employment.