Ringgit likely to be weaker next week

KUALA LUMPUR: THE ringgit will likely be lower against the US dollar next week, in line with the strengthening of the greenback, dealers said.

Dealers said the ringgit will likely move between the 3.47 to 3.50 level against the US dollar during the week.

The ringgit surged to its highest level at 3.4620 against the US dollar this year to date, after the Hari Raya public holiday on Wedneseday.
However, on Friday the ringgit retreated from the year high, as the US dollar strengthened against major currencies on concerns over the prospects of a slower pace in the global economic recovery.

It also followed news that the US authorities may be curbing stimulus spending. - + selanjutnya

Ringgit likely to be weaker next week