Is the 1986, smash hit for Owen Paul.
Bernama's weekly Ringgit outlook, is indeed my favourite waste of time. The national news agency now says that the Ringgit will trade at 4.45 to the dollar next week.
The so called news agency, seems to forget, that one week before Donald Trump becomes the most armed and dangerous man in the planet, only a fool will bet against the dollar.
Expect the Ringgit to trade past the 4.50 mark instead, of 4.45 LAH, BERNAMA, especially since the Ringgit is at a 21 century low even against the Rupiah and is just two Sen away from an all time low against the Singapore dollar .
Anyway, here is the Bernama story. Read below :
KUALA LUMPUR, Jan 7 — The ringgit is likely to hover around the 4.45 level against the US dollar next week with external factors continuing to influence the local unit’s movement, a dealer said.
Affin Hwang Investment Bank Vice-President/Head of Retail Research Datuk Dr Nazri Khan Adam Khan said the ringgit and other currencies would receive a boost with recovering oil prices.
“We believe the ringgit will eventually stabilise and strengthen considering Malaysia’s strong fundamentals, coupled with improving commodity prices such as rubber and palm oil,” he told Bernama.
He, however, said most people were looking ahead to the US Federal Reserve meeting, for the next big move in the foreign exchange market, in anticipation of a further interest rate hike.
For the week just-ended, the ringgit was traded at 4.4710/4740 against the greenback last Friday compared with 4.4845/4875 but ended mostly lower against other major currencies.
