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A basket of Asian currencies weakened after Federal Reserve governor Michelle Bowman said it was not time to ease and she was open to hikes if inflation stays firm. The Bloomberg Asia Dollar Index fell to its lowest since November 2022, and the ringgit slipped from RM4.7105 on June 20 to RM4.719.
Hawkish Fed signals and a stronger dollar raise the cost of dollar-priced feed and oilseed imports across Asia, pressuring regional buyers.
bizinsider.orglexy TellersJun 28, 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.
