US DOLLAR

FOREX: Ringgit Likely To Be Higher Against US Dollar

KUALA LUMPUR, Aug 15 (Bernama) -- The ringgit is likely to be higher against the US dollar next week following the more upbeat outlook for stock markets, dealers said.

"The positive market sentiment on Bursa Malaysia will encourage more buying of the local currency," one of the dealers said.

Analysts said that signs of the Asian economies coming out from an economic downturn will add confidence to the equities markets and boost Asian currencies.

Asian markets rebounded on Thursday following the US Federal Reserve's decision to keep key interest rates near zero.

The improved market sentiment in Asian markets was also driven by news of an improved global economic outlook after Germany and France reported economic growth in the second quarter of the year.

According to the analysts, the improving economic outlook in the European zone helped to offset weak US retail data.