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The ringgit opened lower on June 1 as a stronger US dollar index and rising Treasury yields reflected fears of further global inflation. The dollar index rose to 101.786 at the end of May.
The Fed is set to begin shrinking its balance sheet and is expected to raise rates by 50 basis points at its June meeting.
A stronger dollar raises the ringgit cost of dollar-priced feed and oilseed imports. The expected Fed tightening keeps pressure on emerging-market currencies.
malaymail.comJun 1, 2022After 2,356 past bullish macro events, US Dollar (Broad) 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.
