Ringgit seen testing 4.75 level against US dollar

KUALA LUMPUR: The ringgit is expected to decline further against the US dollar this week, possibly in the 4.75 range, say analysts.

SPI Asset Management managing director Stephen Innes reckons that the US Federal Open Market Committee could lose its patience as inflation is not falling fast enough in the United States, which would mean more aggressive hikes and a strong US dollar.