KUALA LUMPUR, June 16 (Bernama) — The ringgit is likely to weaken against the US dollar next week on lower demand for commercial activities amid expected consolidation in the local stock market, dealers said. The local currency had risen almost 15 percent to the US dollar since unpegged, in tandem with gains made on local stock market over the past months. The dollar, meanwhile, is expected to be higher next week, particularly against the Japanese yen as an interest rate hike is unlikely in Japan after the Bank of Japan left its benchmark lending rate unchanged yesterday. During the week, the local unit was mostly higher against the US dollar in line with the improved local stock market performance. read more
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