# FMC Optimistic On Ringgit’s Near Term Outlook, Top Beneficiary On Fed Rate Cut

> Bank Negara's Financial Markets Committee, under a new chairman, discussed domestic market developments and reforms. It said the ringgit depreciated only 2.6% against the dollar year to date, ranking third among 10 regional currencies, and that it remained optimistic about the near-term outlook.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30065-fmc-optimistic-on-ringgit-s-near-term-outlook-top-beneficiary-on-fed-rate-cut
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A resilient ringgit reduces the local-currency cost pressure on Malaysian palm oil and imported feed, supporting stable regional vegetable oil pricing.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2024/06/28/fmc-optimistic-on-ringgits-near-term-outlook-top-beneficiary-on-fed-rate-cut/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.