The ringgit is anticipated to weaken next week as trading concludes for 2024 and begins for 2025, with forecasts ranging from 4.47 to 4.50 against the US dollar. Analysts point to mixed market signals, geopolitical uncertainties, and potential US tariffs under President-elect Trump as contributing factors. Additionally, concerns regarding China's economic outlook, including its record bond issuance, are also influencing investor sentiment.
KUALA LUMPUR: The ringgit is set to exhibit softness next week during the last period of trading in 2024 and the start of 2025, with movements likely ranging between 4.47 and 4.50.
He said the US dollar tends to weaken seasonally at this time, but with President-elect Donald Trump’s tariffs on the horizon, there's an added layer of uncertainty. "Since Trump’s victory in early November, the US Dollar Index has rallied about 4.0 per cent to 107.6, the highest level in two years, reflecting expectations of potential tariffs on US trade partners,” he noted.
On a Friday-to-Friday basis, the ringgit appreciated against the US dollar to 4.4680/4750 from 4.5055/5100 a week ago.It gained versus the British pound to 5.5904/5991 versus 5.6328/6384 previously.
Ringgit Malaysian Ringgit Currency US Dollar Asian Currencies Trump Trade Tariffs China's Economy
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