On a Friday-to-Friday basis, the ringgit weakened to 4.1650/1690 against the US dollar from 4.1570/1620 previously. — Reuters pic
FXTM market analyst Han Tan said the Fed’s upcoming policy decision is set to be a key driver of global markets in the week ahead, as markets expect at least one US interest rate cut to be a near-certainty this year. “The US dollar has been rather subdued with markets pricing in an interest rate cut over the coming months,” he told Bernama.
Tan, however, said the Fed’s US economic forecasts in the week ahead could also influence risk sentiment, whereby heightened downside risks for the world’s largest economy could fuel concerns over the broader global slowdown and prompt Asian assets to unwind recent gains.
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