Ringgit seen softer next week on bullish greenback
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The ringgit is expected to face downward pressure next week due to a bullish US dollar; Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid notes the US dollar's favorable position; US Fed governor Christopher Waller advocates for cautious interest rate cuts; the European Central Bank has recently cut rates, with potential further reductions; Malaysia's Budget 2025 aims to narrow the budget deficit to 3.8% of GDP; the ringgit fell against the US dollar to 4.3045/3075 from 4.2865/2910; it appreciated against the euro to 4.6674/6706 from 4.6886/6935; mixed performance against ASEAN currencies; the ringgit was higher against the Singapore dollar at 3.2791/2817 but weaker against the Thai baht at 12.9579/9916.

#Ringgit #UsDollar #Economy #BankMuamalat #InterestRates #Malaysia #Budget2025 #CurrencyExchange #Asean #FinancialOutlook

https://www.nst.com.my/business/economy/2024/10/1122528/ringgit-seen-softer-next-week-bullish-greenback 

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