KUALA LUMPUR: The ringgit is expected to hover between RM4.22 and RM4.24 next week as the US Federal Reserve (Fed) is anticipated to maintain its policy rate, said an analyst.<\/p>\n
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said this outlook is tied to the upcoming Federal Open Market Committee (FOMC) meeting, scheduled for July 29-30, 2025.<\/p>\n
“Based on the interest rate futures market, the Fed is likely to keep the Federal Funds Rate steady at 4.50 per cent. Technical indicators suggest that the US dollar-ringgit exchange rate is currently in a neutral zone,” he told Bernama.<\/p>\n
Meanwhile, SPI Asset Management managing partner Stephen Innes expects the ringgit to trade within a relatively narrow range of 4.2080-4.2280, with trade-related headlines and external sentiment continuing to drive short-term direction.<\/p>\n
On a Friday-to-Friday basis, the ringgit ended the week better against the greenback, closing at 4.2195\/2245 versus 4.2410\/2455 previously.<\/p>\n
However, the local note traded lower against a basket of major currencies.<\/p>\n
The ringgit depreciated vis-\u00e0-vis the Japanese yen to 2.8529\/8565 from 2.8517\/8549 and declined versus the euro to 4.9507\/9566 from 4.9336\/9388 at the end of last week.<\/p>\n
However, it gained against the British pound to 5.6786\/6853 from 5.6999\/7060\u00a0 last Friday.<\/p>\n
Against ASEAN currencies, the ringgit trended higher.\u00a0<\/p>\n
The local note firmed against the Singapore dollar to 3.2937\/2978 from 3.3027\/3065, strengthened versus the Thai baht to 13.0268\/0478 from 13.3027\/3065, rose versus the Indonesian rupiah to 258.5\/258.9 from 260.2\/260.6 previously, and improved against the Philippine peso to 7.38\/7.40 from 7.41\/7.43 last Friday. – Bernama<\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR: The ringgit is expected to hover between RM4.22 and RM4.24 next week as the US Federal…\n","protected":false},"author":2,"featured_media":25282,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,63,99,12970,13699,24755,171,24754,5300],"class_list":["post-25281","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-au","tag-australia","tag-business","tag-currencies","tag-fed","tag-fomc","tag-markets","tag-ringgit","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/25281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=25281"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/25281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/25282"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=25281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=25281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=25281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}