Ringgit Likely To Be Affected By Greece Second Bailout Announcement

KUALA LUMPUR, Feb 18 (Bernama) -- The ringgit is likely to trade between 3.06 and 3.07 against the greenback as players track progress and developments in Greece, dealers said. They said the market would react next week to the announcement to be made by Greek officials during the weekend, said a dealer. “The market will take its cue from the announcement and thereafter,” a dealer said. The situation in the region has kept the market volatile and affects global market sentiments in the near term, the dealer said, adding there were no domestic factors identified that would affect the local unit next week. On a Friday-to-Friday basis, the ringgit traded lower against the US dollar at 3.0420/0450 from 3.0300/0335, and depreciated against the British pound to 4.8061/8117 from 4.7904/7969 previously. The local unit, however, improved against the Singapore dollar to 2.4114/4144 from 2.4136/4177, appreciated against the Japanese yen to 3.8477/8539 from 3.9051/9112, and gained against the euro to 3.9920/9972 from 4.0211/0267 last Friday. -- BERNAMA