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The ringgit reached a 29-month high of 4.032 per dollar as the US dollar index fell to its lowest level since April 2018. Analysts expected further gains from a weaker dollar, higher Brent crude near US$51, and investor demand for higher-yielding assets.
A weaker dollar and firmer crude support emerging Asian currencies, which can ease the local-currency cost of dollar-priced feed imports. The impact on grain and oilseed prices is indirect.
themalaysianreserve.comDzulDec 17, 2020Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
