Ringgit likely to trade with a slight positive bias against US dollar

KUALA LUMPUR: The ringgit is expected to trade with a slight positive bias against the US dollar this week as investors assess the outlook for the US interest rates.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors’ main focus will be on October’s US Consumer Price Index and Producer Price Index, scheduled for release tomorrow and Friday, respectively.

“Softer inflation readings could weigh on US Treasury yields and the greenback, providing support for the ringgit.

“However, stronger-than-expected inflation could reverse such gains,” he told Bernama.