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Most Asian currencies and equities eased on Nov 22 after a recent rally, as investors grew cautious about expectations that the Fed's rate-hike cycle was ending. The Indonesian rupiah fell more than 1%, its biggest one-day drop since Sept.
28, and the Malaysian ringgit also weakened. Analysts attributed the rupiah's slide mainly to onshore dollar demand.
A weaker rupiah and ringgit raise the local-currency cost of imported feed ingredients and can pressure Indonesian and Malaysian feed and palm oil buyers. The move is a short-term currency swing with little direct effect on grain or meal prices.
brecorder.comReutersNov 22, 2023Not enough comparable past events yet for a historical read.
Not 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.
