Ringgit To Continue Facing Volatility Amid Global Trade Concerns
The ringgit opened stronger against the US dollar, extending gains amid expectations of a potential interest rate cut by the US Federal Reserve following weaker-than-expected jobless claims data. The US Dollar Index also dipped slightly as market sentiment leaned towards a rate cut in September. Domestically, the ringgit showed resilience after recent selling pressure and is expected to trade between RM4.22 and RM4.23 against the dollar. However, it was mostly lower against major currencies like the yen and pound, while showing gains against regional peers including the Singapore dollar, Thai baht, Philippine peso, and Indonesian rupiah.
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