Ringgit to trade in tight range of 4.46-4.48 versus US Dollar next week
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The ringgit is expected to trade between RM4.46 and RM4.48 against the US dollar next week, according to Dr. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd. Traders will monitor the US personal consumption expenditures (PCE) data for October, which is the Federal Reserve's preferred inflation gauge. The 10-year US Treasury yield rose from 4.27% to 4.41%-4.42%, indicating market expectations of inflation. For the week ending November 22, 2024, the ringgit appreciated against the US dollar, closing at 4.4660/4720, up from 4.4715/4770 the previous week. It also gained against the euro and British pound but fell against the Japanese yen. The ringgit improved against ASEAN currencies, gaining against the Philippine peso, Singapore dollar, and Indonesian rupiah, while depreciating against the Thai baht.

#Ringgit #UsDollar #Economy #BankMuamalat #Inflation #TreasuryYield #Asean #CurrencyExchange #PceData #FinancialForecast

https://www.nst.com.my/business/economy/2024/11/1138438/ringgit-trade-tight-range-446-448-versus-us-dollar-next-week 

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