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The ringgit gained against the US dollar at the open as traders anticipated Bank Negara Malaysia's upcoming Overnight Policy Rate decision. Analysts linked the move to expectations for the policy outcome.
Currency moves ahead of central bank decisions have limited direct effect on feed commodity prices, but a stronger ringgit slightly raises the cost of Malaysian palm oil in dollar terms.
malaysiaforexmagazine.comHelia KarinaJan 24, 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.
