Nomura bearish on ringgit with dollar strength, political noise

KUALA LUMPUR: Nomura expects the ringgit to weaken to 4.52 against the US dollar by the end of 2016 and further weaken to 4.76 by the end of 2017.
Its Southeast Asia economist Euben Paracuelles said the ringgit will be on a weakening pattern due to the strength of the US dollar, the ringgit being one of the under performers in the region, as well as political noise in the country.
He expects Bank Negara Malaysia to cut interest rates twice next year, and forecasts GDP growth to come in at 4.0% in 2016 and 3.7% in 2017.