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The ringgit opened almost unchanged at 4.0400/0430 against the US dollar on Feb 23 as investors weighed COVID-19 vaccine news against a weaker greenback. Analysts said the currency was caught between narrowing yield gaps with US bonds and surging oil prices.
Oil prices and the ringgit both feed into Malaysian palm oil costs, so the tug-of-war between them is relevant to vegetable oil pricing. The day's move was negligible.
nst.com.myBernamaFeb 23, 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.
