Economists predict the ringgit will continue its upward trend this week, potentially surpassing the 3.95 level due to optimism surrounding West Asia developments. Key factors include the ongoing ceasefire in Iran and the reopening of the Strait of Hormuz.
The ringgit is anticipated to maintain its upward trajectory this week, with economists noting a cautious optimism regarding developments in West Asia. Bank Muamalat Malaysia Bhd's chief economist highlighted that market sentiment is influenced by the ceasefire in Iran and the potential reopening of the Strait of Hormuz. Kenanga Investment Bank Bhd cautioned that markets may hold back on aggressive positions until there is tangible progress from the Islamabad peace talks between the US and Iran.