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The ringgit rose as much as 0.5% to 4.6630 per dollar on Friday, set for a seventh day of gains and its longest winning streak since January 2023. Traders are betting that the interest-rate gap with the US will narrow.
Ringgit strength reduces the local cost of Malaysian palm oil in dollar terms only marginally at these levels, so the price impact on feed markets is minor.
bloomberg.comMatthew Burgess, Khushi MalhotraJul 12, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
