Ringgit seen to trade at 4.15-4.20 range
==========
The ringgit is expected to trade stronger, projected in the 4.15-4.20 range against the US dollar; it surged to its highest level since March 2022, becoming the world's top-performing currency last week; analysts at Kenanga Research noted a 12.67% rise against the US dollar in six months; the ringgit closed at 4.2005/2070 on September 22, 2024, following a 50 basis points rate cut by the US Federal Reserve on September 18, 2024; the ringgit also strengthened against the euro, British pound, and Japanese yen; Kenanga Research revised its end-2024 forecast for the US dollar-ringgit to 4.25; SPI Asset Management's Stephen Innes indicated a continued bullish bias for the ringgit, expecting a trading range of 4.1875 to 4.2025.
#Ringgit #UsDollar #KenangaResearch #StephenInnes #FederalReserve #Currency #Economy #Malaysia #Forex #InterestRates
https://www.nst.com.my/business/economy/2024/09/1109364/ringgit-seen-trade-415-420-range
New Straits Times /
npub1da…x087j
2024-09-23 00:52:13
Author Public Key
npub1da9xhqetht0hvcwa6g5ftpl58zs3zymrtf6t69rfw66hr2uk6gnq9x087jPublished at
2024-09-23 00:52:13Event JSON
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"content": "Ringgit seen to trade at 4.15-4.20 range\n==========\n\nThe ringgit is expected to trade stronger, projected in the 4.15-4.20 range against the US dollar; it surged to its highest level since March 2022, becoming the world's top-performing currency last week; analysts at Kenanga Research noted a 12.67% rise against the US dollar in six months; the ringgit closed at 4.2005/2070 on September 22, 2024, following a 50 basis points rate cut by the US Federal Reserve on September 18, 2024; the ringgit also strengthened against the euro, British pound, and Japanese yen; Kenanga Research revised its end-2024 forecast for the US dollar-ringgit to 4.25; SPI Asset Management's Stephen Innes indicated a continued bullish bias for the ringgit, expecting a trading range of 4.1875 to 4.2025.\n\n#Ringgit #UsDollar #KenangaResearch #StephenInnes #FederalReserve #Currency #Economy #Malaysia #Forex #InterestRates\n\nhttps://www.nst.com.my/business/economy/2024/09/1109364/ringgit-seen-trade-415-420-range",
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