The ringgit could continue to strengthen against the US dollar this month despite the two-day correction seen since Monday.
According to the AmBank Group foreign exchange research and strategy report, valuation wise, the ringgit has a leeway to strengthen and, based on historical data, it has a good chance to continue strengthening this month.
“The seasonality pattern of the ringgit in April of each year surprisingly has the highest predictable change compared to other months of the year. Since 2006, the ringgit has consistently demonstrated its appreciation bias against the US dollar in April,” it said.
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According to the AmBank Group foreign exchange research and strategy report, valuation wise, the ringgit has a leeway to strengthen and, based on historical data, it has a good chance to continue strengthening this month.
“The seasonality pattern of the ringgit in April of each year surprisingly has the highest predictable change compared to other months of the year. Since 2006, the ringgit has consistently demonstrated its appreciation bias against the US dollar in April,” it said.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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