皇冠备用网址（www.hg9988.vip）:Ringgit may breach RM4.50 level against the greenback
Maybank Group’s regional head of FX Research and strategy Saktiandi Supaat, said there are risks of the US dollar strenghtening should inflation numbers roar ahead and in turn, creating the expectation that the US Federal Reserve’s (Fed) rate hikes may be aggressive in September.皇冠网址app（www.hg108.vip）是一个开放皇冠官方网址代理APP下载、皇冠官方网址会员APP下载、皇冠官方网址线路APP下载、皇冠官方网址登录APP下载的官方平台。皇冠体育官方网址APP上最新登录线路、新2皇冠官方网址更新最快。皇冠体育网址APP开放皇冠官方会员注册、皇冠官方代理开户等业务。
PETALING JAYA: The ringgit could breach the RM4.50 level against the greenback on concerns over domestic political issues ahead of the 15th General Election (GE15) and further US dollar strengthening.
The ringgit closed the trading week at RM4.45 against the US dollar as the greenback weakened despite US initial jobless claims data showed its job market remained strong.
Maybank Group’s regional head of FX Research and strategy Saktiandi Supaat, said there are risks of the US dollar strenghtening should inflation numbers roar ahead and in turn, creating the expectation that the US Federal Reserve’s (Fed) rate hikes may be aggressive in September.
Although the Fed chairman has recently signalled that rate hikes may not be aggressive moving forward, San Fransisco Fed president Mary Daly told Reuters recently should inflation figures come in stronger, the Fed may increase rate hikes to 75 basis points.
Saktiandi foresees the ringgit US dollar pair to trade between the RM4.40 to RM4.50 range in the short term as concerns over global recession and domestic politics would create volatility in the ringgit.
“Its all going to be data-driven and dependent on the US dollar movement, which would then affect the ringgit,” he told StarBiz.
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Saktiandi foresees the ringgit US dollar pair to trade between the RM4.40 to RM4.50 range in the short term as concerns over global recession and domestic politics would create volatility in the ringgit.
“All these factors point to my view on the current range of RM4.40 to RM4.50 and the risk of going above RM4.45 to a dollar should the dollar strengthen.
“The risk of the ringgit breaching the RM4.45 level against the US dollar could happen if the greenback strengthens and the domestic issues in Malaysia spiral over the next two quarters,” he said.
Given that Fed’s Daly foresees a hike of 50 basis points in September, Satiandi said that dollar would soften and the ringgit would appreciate against the greenback.
That said, by end-year, his view is that the ringgit could touch the RM4.40 level against the greenback on the back of the US dollar mildly softening.
“The Fed might slow the pace of tightening or pause given the inflation peak. However, it all depends on the US dollar movement and concerns of developments domestically to the run-up of the GE15 in Malaysia.” he pointed out.
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回复THE littoral combat ship (LCS) scandal and the rising cost of living could prove problematic for Barisan Nasional at the upcoming general election, MCA secretary-general Chong Sin Woon said.Chong said BN should have held general elections immediately after the Johor election as the coalition had gained momentum and it was the perfect time to hold polls.With this LCS scandal, Wong said, the opposition parties now have ammunition to use against BN.“This is the opposition party’s tactic, just like they hyped up the 1Malaysia Development Bhd (1MDB) scandal to win the last GE,” Chong told The Malaysian Insight.“BN must learn from its past mistakes and not repeat them.”Last week, the Public Accounts Committee (PAC) released its report on the Defence Ministry’s purchase of six LCSs from BNS through direct negotiations.Although the government had paid the manufacturer RM6 billion, not a single ship had been delivered.According to the original schedule, five LCSs should have been delivered to the ministry this month.Chong said a royal commission of inquiry should be set up to investigate the LCS scandal.“The whole coalition should not be dragged down because of this, and BN cannot just explain it away.“While we don’t know when GE15 will be held, we don’t want the LCS to be held over our heads.“BN should not give the impression that it is trying to cover up the LCS scandal, it must get ahead of it.”Prime Minister Ismail Sabri Yaakob has also ordered the Malaysian Anti-Corruption Commission (MACC) and the Attorney-General’s Chambers (AGC) to speed up investigations.Umno president Ahmad Zahid Hamidi had earlier said that given the rate of inflation, it would not be wise to hold the general elections next year.Ismail, however, has held on despite pressure from his party leader, insisting that an election would only be called when it was favourable to BN.Chong said inflation and the rising cost of living was a global problem, but it was disheartening to see measures implemented according to the wishes of political parties due to the composition of Ismail’s government.He said effective measures could only be put in place when a sole party governed, instead of “having too many cooks in the kitchen.”“Investors will also doubt the stability of a multi-party government.”Only when BN came back to power without the need for other political alliances would political and economic stability be achieved, Chong added. – August 17, 2022.会走红全网的
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