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Maybank Asset Management's chief investment officer said the ringgit is backed by commodities whose prices have fallen, and that the widening gap between Malaysian and US interest rates has also weighed on it. He said the currency's weakness reflects broad US dollar strength against most currencies.
A weaker ringgit raises the local-currency cost of imported feed ingredients such as soybean meal and corn. Continued weakness would add to Malaysian feed costs.
businesstoday.com.myJul 12, 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.
