KUALA LUMPUR, April 5 — The ringgit is expected to bounce back amid volatility and unpredictable currency markets, said Juwai IQI Global chief economist Shan Saeed.
He said the US dollar is expected to further weaken in the coming quarters as the US Federal Reserve slashed its benchmark interest rate by a full percentage point to near zero and promised to boost its bond holdings by at least US$700 billion.
He said the Fed made such a move to save the US economy from the fallout from Covid-19.
“If you pick the latest issue of Forbes magazine, it clearly makes the point that the dollar is heading south.
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Source: Malay Mail
