Ringgit to remain uncertain next week

31/12/2011 06:54 AST

The ringgit is expected to remain uncertain against the US dollar in the first trading week of the New Year as investors look ahead for fresh leads against the backdrop of the eurozone debt crisis, dealers said.

Investors are likely to remain sidelined, awaiting more positive news regarding the Italian debt crisis, a dealer said.

"I think Asian currencies would remain uncertain until the euro starts to recover," he said.

Italy's debt sales this week saw its borrowing costs ease generally, but it remained unsustainably high, especially for a country needing to raise 450 billion euros (US$580 billion) through debt issuance in 2012.

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