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The ringgit opened weaker against the US dollar on May 30, dropping to about 4.715 per dollar. The dollar index moved above 105 and 10-year Treasury yields rose to 4.61%, while the ringgit traded mostly firmer against other major currencies.
A stronger dollar and higher yields tighten financing conditions for importers of US-priced feed ingredients, which can weigh on demand in price-sensitive Asian markets.
capitalpost.com.myCP Special ReportMay 30, 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.
