KUALA LUMPUR: The ringgit is expected to trade within a narrow range next week, as investors remain cautious amid ongoing global inflation concerns, said an analyst.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the local currency is likely to fluctuate between 4.22 and 4.24 against the US dollar.
He added that market attention will be on the upcoming Federal Open Market Committee (FOMC) meeting on June 17-18.
“The focus would be on the quarterly forecast by the Federal Reserve’s (Fed) staff, particularly the outlook for the Fed Funds Rate for the remainder of the year,” he told Bernama.
