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Fitch Solutions revised its 2021 and 2022 average ringgit forecasts to 4.05 per US dollar from 4.15. The revision reflects the ringgit's strong rally over the second half of 2020 and expected loose US monetary and fiscal policy.
The research house flagged downside risks from Malaysia's third COVID-19 wave.
A stronger ringgit forecast lowers the local cost of dollar-priced imports such as feed ingredients. The revision is a forecast change and not a new supply or demand shock.
businesstoday.com.myPoovenraj KanagarajJan 6, 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.
