KUALA LUMPUR: The ringgit is expected to continue its upward momentum against the US dollar next week, propelled by Malaysia’s third quarter gross domestic product growth as well as the possibility of the central bank revising the overnight policy rate (OPR). Affin Hwang Investment Bank Vice-President and Head of Retail Research Datuk Dr Nazri Khan Adam Khan said the ringgit might hover around 4.10 against the greenback next week due to positive domestic factors. Most analysts and economists are projecting the central bank to revise the OPR in the first quarter of next year. On a Friday-to-Friday basis, the ringgit had strengthened 300 basis points to 4.1600/1630 against the greenback from 4.1900/1930 last Friday. It depreciated versus the Japanese yen to 3.6961/6998 from 3.6952/6988 and depreciated vis-a-vis the euro to 4.9055/9103 from 4.8855/8899, previously.--BERNAMA

Source: New Strait Times November 18, 2017 02:37 UTC