The ringgit halted its five-day advanced against the US dollar, as some analysts cautioned that the currency’s recent sharp appreciation may have been “too far and too soon”.
The drop in the price of crude oil had also dampened investors’ sentiment on the ringgit.
“Things would be on a more stable platform if oil prices stay at least above US$40 per barrel,” Alliance Bank chief economist Manokaran Mottain told StarBiz.
He expected the ringgit to remain volatile as the crude oil price continued to hover below US$40 per barrel.
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The drop in the price of crude oil had also dampened investors’ sentiment on the ringgit.
“Things would be on a more stable platform if oil prices stay at least above US$40 per barrel,” Alliance Bank chief economist Manokaran Mottain told StarBiz.
He expected the ringgit to remain volatile as the crude oil price continued to hover below US$40 per barrel.
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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