Ringgit likely to trade around 4.78 versus greenback next week
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The ringgit is likely to trade around 4.78 against the US dollar next week. The situation in the Middle East will continue to be under scrutiny by investors, and any escalation in tension would result in a higher demand for the US dollar. The Federal Reserve's favorite inflation gauge, the personal consumption expenditures (PCE) price index, will also be watched. Stable growth prospects and authorities' continued support might help keep the ringgit stable. On April 15, Bank Negara Malaysia said it stood ready to deploy tools to ensure the Malaysian financial markets remain orderly. The ringgit depreciated to 4.7810/7855 versus the greenback compared with 4.7680/7730 a week earlier. Malaysia's economy was forecast to have grown by 3.9% in 1Q2024. The ringgit traded higher against Asean currencies except for the Singapore dollar.



https://theedgemalaysia.com/node/708707