Loading…
The ringgit has traded below 4.40 against the US dollar since the previous Friday, supported by a weaker dollar index below 105 and a stronger yuan. Analysts at Kenanga expect the Fed to slow its hikes from 75 to 50 basis points at its upcoming FOMC meeting.
They also see the ringgit facing some depreciation pressure from the widening BNM-Fed policy-rate gap.
A possible ringgit weakening after the FOMC would raise the local currency cost of dollar-priced feed imports. Expectations are already priced in, so the effect is limited.
businesstoday.com.myDec 10, 2022Not 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.
