Ringgit Set for Stable Trade Amid US Interest Rate Uncertainty

The Malaysian ringgit is expected to trade within a narrow range against the US dollar next week, according to Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid.

The currency will likely hover between RM4.07 and RM4.09, as investors remain cautious about the direction of interest rates in the United States.

This caution is driven by upcoming economic data releases, including the US Consumer Price Index (CPI) due on August 12, which is expected to show a 3.4% increase.