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The ringgit is expected to trade sideways in the near term as investors await the US Federal Reserve's interest rate signals. Economists at Bank Islam said a sooner-than-expected hike could weaken the ringgit, with a narrow expected range of RM4.14 to RM4.15 per US dollar.
A firmer dollar against the ringgit raises the ringgit cost of dollar-priced feed ingredients imported into Malaysia, such as soybean meal and corn. Expectations of a sideways range limit near-term pressure.
themalaysianreserve.comDayang NorazharJun 27, 2021Not 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.
