By Nurunnasihah Ahmad Rashid<\/p>\n\n\n\n
KUALA LUMPUR, Feb 25 (NNN-Bernama) — Malaysian ringgit is expected to trade between\u00a04.4275 and\u00a04.4575 against the US dollar next week, a wider range\u00a0than normal due to the uptick in market volatility.<\/p>\n\n\n\n
“I think the ringgit will trade defensively next week unless we get a drop in the US personal consumption expenditures (PCE) indicator,\u201d said SPI Asset Management managing director Stephen Innes.<\/p>\n\n\n\n
“However, if the data comes in higher than expected, it will set up the path towards a stronger US dollar next week, and hurt Asian currencies including the ringgit,” he told Bernama.<\/p>\n\n\n\n
He said the US PCE data will set the stage for the US Federal Reserve (Fed) meeting on March 22 on interest rates.<\/p>\n\n\n\n
During the week, the ringgit was mostly lower against the greenback on worries over the US Fed) decision on interest rates, higher US yields and weaker oil prices. <\/p>\n\n\n\n
The local currency ended the week easier against the US dollar on a lack of buying momentum, in line with the weaker sentiment of other Asian currencies.<\/p>\n\n\n\n
On a week-on-week basis, the ringgit was weaker against the US dollar at 4.4335\/4370 at Friday’s close versus 4.4310\/4345 a week earlier.<\/p>\n\n\n\n
However, the local note mostly appreciated against a basket of major currencies compared to a week earlier.<\/p>\n\n\n\n
It fell against the British pound at 5.3308\/3350 from 5.2919\/2961 and strengthened versus the Singapore dollar to 3.2970\/3001 from 3.3062\/3093.<\/p>\n\n\n\n
The local unit also increased vis-a-vis the euro to 4.6933\/6970 from 4.7137\/7174 and gained against the Japanese yen to 3.2804\/2833 from 3.2864\/2892. <\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
By Nurunnasihah Ahmad Rashid KUALA LUMPUR, Feb 25 (NNN-Bernama) — Malaysian ringgit is expected to trade between\u00a04.4275 and\u00a04.4575 against the US dollar next week, a wider range\u00a0than normal due to the uptick in market volatility. “I think the ringgit will trade defensively next week unless we get a drop in the US personal consumption expenditures […]<\/p>\n","protected":false},"author":30,"featured_media":147241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/212157"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=212157"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/212157\/revisions"}],"predecessor-version":[{"id":212206,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/212157\/revisions\/212206"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/147241"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=212157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=212157"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=212157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}