AmBank Group chief economist Anthony Dass remains “overweight” on the ringgit, putting its fair value at around RM3.95 against the US dollar. The ringgit, which traded at 4.1953 yesterday morning, was last traded at 4.1960 versus Friday’s close at 4.1955. Hong Leong Investment Bank expects the bias to be helped by both domestic and external factors. Improving global growth across economies as well as monetary policy will continue to exert weakness in the US dollar while firmer oil prices will boost the ringgit. Domestically, both low foreign holdings in upcoming maturities and higher export proceeds conversion on strong trade surplus are ringgit positive, it said.

Source: New Strait Times September 12, 2017 03:45 UTC