KUALA LUMPUR: The ringgit is likely to trade between 3.26 and 3.27 against the US dollar next week driven by overall sentiment surrounding the greenback, dealers said.
A foreign exchange trader said the greenback is likely to be held firm, at least in the early week, by higher US interest rate outlook given an optimistic outcome from the Federal Reserve as well as the positive US gross domestic product for the third quarter.
Meanwhile, the Bank of Japan's new easing policy is also expected to provide a guide to next week's market direction, he added.
On a weekly basis, the ringgit was traded easier against the US dollar at 3.2885/2900 from last Friday's 3.2780/2800.
However, it ended the week higher against other major currencies.
The local unit appreciated against the British pound to 5.2550/2591 from 5.2655/2693 and was higher against the Singapore dollar at 2.5631/5663 from 2.5678/5715.
It strengthened against the yen to 2.9491/9512 from 3.0299/0331 and improved against the euro to 4.1343/1368 from 4.1483/2518.-- Bernama