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(Bernama) - The ringgit is expected to continue to decline against the United States (US) dollar next week, possibly in the range of 4.75, analysts said.
SPI Asset Management Managing Partner Stephen Innes thinks the US Federal Open Market Committee (FOMC) is not expected to breathe a sigh of relief as inflation has not eased rapidly in the country, thus meaning hikes are more aggressive, while the US dollar is strong.
"There seems to be an agreement that inflation remains high, therefore, the market is also considering a further increase in rates is necessary.
'Liquidity is declining rapidly, and this could affect riskier currencies such as the ringgit, and I would not be surprised if the ringgit is tested at 4.75, especially if there is a delay in Gross Domestic Product (GDP) and worse than expected Chinese trade data, ” said Innes.
https://www.malaysia-today.net/2022/10/2...ggu-depan/
SPI Asset Management Managing Partner Stephen Innes thinks the US Federal Open Market Committee (FOMC) is not expected to breathe a sigh of relief as inflation has not eased rapidly in the country, thus meaning hikes are more aggressive, while the US dollar is strong.
"There seems to be an agreement that inflation remains high, therefore, the market is also considering a further increase in rates is necessary.
'Liquidity is declining rapidly, and this could affect riskier currencies such as the ringgit, and I would not be surprised if the ringgit is tested at 4.75, especially if there is a delay in Gross Domestic Product (GDP) and worse than expected Chinese trade data, ” said Innes.
https://www.malaysia-today.net/2022/10/2...ggu-depan/
