The Ringgit is expected to trade higher against the US dollar due to the US Federal Reserve’s interest rate cuts and low inflation. On a Friday-to-Friday basis, the Ringgit strengthened to 4.3185/3225 from 4.3720/3775.
Ringgit strengthens amid US fed rate cuts
It also gained against the euro, British pound, Japanese yen, and ASEAN currencies. Economists attribute this to Malaysia’s political stability and improved economic data.
Prime Minister Anwar Ibrahim highlighted the Ringgit’s strength, citing government policies and increased foreign investments. The Ringgit is likely to appreciate further, potentially breaching RM4.3030, as it reverts to its long-term mean.
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