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The ringgit opened higher on June 16 after the Federal Reserve raised its benchmark rate by 75 basis points to 1.50%-1.75%. Bank Islam's chief economist expects the Fed funds rate to reach 3.50% by year-end.
US equities rebounded and Treasury yields rose after the decision.
The Fed's aggressive tightening strengthens the dollar against emerging-market currencies, which raises the local cost of dollar-priced feed imports. Expectations of a slower pace of hikes could ease this pressure later.
themalaysianreserve.comZukriJun 16, 2022After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not 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.
