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The ringgit strengthened against the US dollar on the last trading day of 2022, closing at about 4.40 from 4.42 the previous day. Traders cited China's reopening and expectations of less aggressive Fed rate hikes after weak US jobless-benefit data.
The ringgit also gained against the pound and euro but weakened against the yen.
A firmer ringgit lowers the ringgit cost of dollar-priced feed imports such as soymeal and corn, easing domestic feed costs for Malaysian buyers. China's reopening is also seen supporting regional demand and currencies.
themalaysianreserve.comZukriDec 30, 2022Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
