Analyst: The Malaysian Ringgit may trade around 4.20 against the US Dollar.

Jin10 data reported on October 24, analysts from Kenanga stated in a report that the Malaysian ringgit may hover around 4.20 against the US dollar in the near future. They believe the ringgit has room for a rise next week due to expectations that the Fed will cut interest rates by 25 basis points. They also mentioned that potential interest rate hikes by the Bank of Japan could put pressure on the dollar. The ongoing US government shutdown has increased fluctuation and cast a shadow over the economic outlook, particularly concerning labor trends. Kenanga expects the dollar/ringgit to face resistance at 4.23 and support at 4.22 in the short term.