: The ringgit is expected to trade between 4.69 and 4.70 next week as markets focus on the US Federal Open Market Committee meeting on March 19-20.
He said markets would be closely monitoring the Japanese central bank’s decision whether it would end its negative interest rate policy and the yield curve control as Japan’s biggest companies have agreed to raise wages by 5.28 per cent for 2024, which would exacerbate the inflation rate. Unless clear indicators of an imminent downturn emerge, US dollar bears may remain in hibernation, particularly with expectations that the BoJ may defer any significant moves until April, rather than acting next week.
It further said the ringgit-US dollar outlook is neutral next week, with the pair expected to hover around its five-day exponential moving average of 4.695.