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The ringgit weakened near 4.68 per US dollar as the dollar index rose above 103 on strong US data and a hawkish Fed. Kenanga expects further ringgit depreciation toward 4.69 ahead of the US core PCE release.
A weaker ringgit raises the cost of imported feed inputs in Malaysia, and dollar strength tends to pressure dollar-denominated grain and oilseed prices. The move is routine currency commentary with no new supply or demand shock.
businesstoday.com.myJun 30, 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.
