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The Malaysian ringgit rebounded strongly on July 14 to 4.52 per US dollar after snapping several weeks of new lows near 4.65-4.67. The move was driven mainly by US economic data, and analysts expect volatility to persist with a slight bias toward ringgit strength.
A firmer ringgit lowers the local-currency cost of imported feed ingredients such as soybean meal and corn, easing pressure on Malaysian feed buyers. Analysts see only gradual gains, so the effect on feed prices is limited.
channelnewsasia.comLeslie LopezJul 14, 2023Not 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.
