The ringgit is likely to trade around current level and could be slightly lower versus the US dollar next week, influenced mostly by external and internal market sentiments, dealers said.
A dealer said the local note might be lower due to profit-taking.
"Profit-taking may set in as the currency hit a 10-week high versus the US dollar this week as government bond prices extended gains after Bank Negara Malaysia's surprise interest rate cut on Wednesday," the dealer said.
The central bank in a surprise move has slashed the overnight policy rate (OPR) by 25 basis points to 3.00 per cent, the first since 2009, to ensure the economy remains on a strong trajectory.
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
A dealer said the local note might be lower due to profit-taking.
"Profit-taking may set in as the currency hit a 10-week high versus the US dollar this week as government bond prices extended gains after Bank Negara Malaysia's surprise interest rate cut on Wednesday," the dealer said.
The central bank in a surprise move has slashed the overnight policy rate (OPR) by 25 basis points to 3.00 per cent, the first since 2009, to ensure the economy remains on a strong trajectory.
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
No comments:
Post a Comment