Qualampur: An analyst stated that the Ringit is expected to be defensive within a tight limit next week, as traders and investors will continue to inspect military conflicts in the Middle East.
Bank Malaysia Malaysia BHD Chief Economist Dr. Mohammad Afzanim Abdul Rashid said that the Center’s phase continues in the Israeli-Iran war as the United States is still weighing its options to participate in the struggle.
“White House spokesperson Karolin Levit indicated that President Donald Trump would decide to go or not within the next two weeks. The US dollar index (DXY) fell 0.22 percent to 98.691 points.
He said, “In addition, individual consumption expenditure (PCE) inflation figures for May 2025 will also be released next week. On that note, the ringt can live within a range of RM4.24 to RM4.25 next week,” he told Bernma.
At the end of the week, Ringit abandoned its earlier gains at the beginning of the week, as Bhurajnical concerns increased the demand for a safe haven US dollar.
However, the market showed a minor sign of recovery at the end of the week, as some investors took the opportunity to return to the emerging currencies due to the latest White House’s announcement about the ongoing Iran-Israel War.
Ringit made the week easier against Greenback, closing a week earlier a week earlier at 4.2505/2565 on Friday.
Local notes do business against a basket of most major currencies.
Ringit raised the Japanese Yen from 2.9245/9289 to 2.9448/9482 from Friday, against the British pound 5.7356/7437 against 5.7482/7543 against 5.7356/7437, but in the end of 4.89069069 already in the end of 4.89069069.
Ringit did most businesses against ASEAN currencies.
Local notes were reduced to 3.3088/3140 against Singapore dollars on Friday to 3.3077/3118, in the previous week, advanced vs Indonesian Rupiah from 259.2/259.7 to 260.2/260.6, before 260.2/260.6, and from 13.9727/9969 to 13.0807 to 13.9727/9969 to 13.0807.
Meanwhile, the ringitte also increased against the Philippine Peso at 7.43/7.45 compared to 7.55/7.56 earlier.
