KUALA LUMPUR: The ringgit is expected to depreciate to RM4.20 against the US dollar next week on lack of trading due to the public holidays. Phillip Capital Management, Asia-Pacific, senior vice president (investment) Datuk Dr Nazri Khan Adam Khan said market activity during the holiday-shortened week is expected to slow down. “The ringgit will decline to RM4.20 against the US dollar before recovering to a better level,” he said. “Still, Malaysia's better-than-expected headline Q1 GDP underscores the resilience of its domestic fundamentals, which will be tested over the course of the year by external headwinds that are pressuring emerging markets,” he added. The ringgit went up against the British pound to 5.3265/3324 from 5.4091/4147 and appreciated vis-a-vis the euro to 4.6601/6652 from 4.6683/6733.

Source: The Star May 18, 2019 02:15 UTC