Ringgit to trade in tight range next week | Malay Mail

On a Friday-to-Friday basis, the ringgit rose marginally higher against the US dollar to 4.1620/1660 from 4.1650/1700 in the previous week. — Picture by Saw Siow Feng

He said crude oil price is the real wild card for the moment with benchmark Brent crude oil price trading below US$39 per barrel yesterday. “However, I think regardless of oil prices, Asian currencies like the ringgit with a strong correlation to the Yuan will hold up relatively well as I do not think the US dollar is a safe bet in this environment,” he told Bernama, anticipating the ringgit to trade between 4.15 and 4.17 next week.

He said the lack of a US stimulus package bill was a major risk aversion trigger for Asian currencies but more idiosyncratic to the ringgit was the fallout from the US banning imports of palm oil from FGV Holdings Bhd due to apparent labour issues.

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