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The ringgit closed lower against the US dollar on May 29 at about 4.70 per dollar after US consumer confidence unexpectedly improved. Rising 10-year Treasury yields revived concern that US rates would stay high for longer, and the dollar index rose to 104.76.
Stronger dollar and higher US yields raise the cost of dollar-priced grain and meal imports for Malaysia and other emerging-market buyers, a modest headwind for feed costs.
freemalaysiatoday.comBernamaMay 29, 2024After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
