Ringgit to hold in tight range amid Mideast conflict
KUALA LUMPUR: The ringgit is expected to stay defensive within a tight range this week, as traders and investors continue to monitor the military conflict in the Middle East, says an analyst.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the Israel-Iran war continues to take centre stage with the United States still weighing its options to participate in the conflict.
'White House spokeswoman Karoline Leavitt indicated that President Donald Trump will make his decision whether or not to (participate) within the next two weeks. The US Dollar Index fell 0.22% to 98.691 points,' he told Bernama.
'Apart from that, Personal Consumption Expenditures inflation data for May 2025 will also be released this week. On that note, ringgit could stay within a range of RM4.24 to RM4.25 this week,' he added.
The ringgit ended last week easier against the greenback, closing at 4.2505/2565 last Friday, but was up against the British pound to 5.7356/7437 from 5.7482/7543 previously.
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