KUALA LUMPUR: The ringgit is likely to trade within the range of between 4.25 and 4.35 against the US dollar next week on the back of firm greenback following the Federal Reserve recent statement that left the December interest hike open.

Inter-Pacific Research Sdn Bhd Head of Research Pong Teng Siew said the possible interest rate hike in December helped to further strengthen the greenback against other currencies.

"However, the slide in ringgit is expected to be more gradual compared with the period between July and September this year which had seen the local currency dropped more rapidly," he told Bernama.

On the local front, Pong said investors would look forward to Malaysia's October trade data, as well as Bank Negara Malaysia's reserve announcement, scheduled for next week, for clues on Malaysia's economic situation that would also affect the ringgit performance.

For the week-just-ended, the ringgit slipped to 4.2920/3000 from 4.2250/2350 in the previous week, hit by sentiments surrounding the impending US interest hike.

It was also dampened by further slide in commodity prices, as well as foreign selling on equities and bond market.

The ringgit also ended the week lower against other major currencies.

The local unit fell versus the Singapore dollar to 3.0616/0695 from 3.0420/0507 last Friday and depreciated against the yen to 3.5568/5643 from 3.5097/5189 last week.

It was softer against the British pound at 6.5792/5928 from 6.5078/5244 and depreciated against euro at 4.7233/7334 versus 4.7020/7144 previously. --BERNAMA