Ringgit Likely To Move Between 3.8-4.0 Versus Greenback In 2Q16

KUALA LUMPUR, April 20 (Bernama) -- The ringgit is likely to move between 3.80 and 4.0 against the US dollar in the second quarter of 2016 on easing worries to US interest rate increase, recovery in commodity prices and reduced risk from China to the emerging economies' currencies. ForexTime Ltd Chief Market Analyst, Jameel Ahmad, said the weakness in the US dollar has helped to contribute to its attractiveness in the emerging markets, with the ringgit as one of the currencies to benefit. "It is still possible that the current reported two US interest rate increases in 2016 can be pushed back even further," he told a media briefing on the state of the ringgit here Wednesday. Jameel said the West Texas Intermediaries crude was expected to move between US$35 and US$44 per barrel in the second quarter. He said the rebound in the price of the commodity was largely technical. -- BERNAMA