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Economists Carmelo Ferlito and Shankaran Nambiar said the ringgit's gains against the US dollar on January 20, 2021 reflect US weakness more than Malaysian strength. The ringgit had weakened against the euro, sterling, the Australian dollar, the Singapore dollar and the baht over the past year.
They called for attention to fundamentals and political stability.
A ringgit rally that is driven by dollar weakness rather than domestic strength may not hold, which limits its effect on Malaysian import costs for feed. The story describes no direct commodity supply or demand change.
freemalaysiatoday.comRobin AugustinJan 20, 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.
