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The ringgit fell to a near two-week low after opposition leader Anwar Ibrahim claimed he had a majority in parliament to oust Prime Minister Muhyiddin Yassin. Regional currencies and stocks also weakened amid a stronger dollar and coronavirus concerns.
Political uncertainty weakens the ringgit, which makes Malaysian purchases of dollar-priced palm oil and other feed inputs more expensive locally. The effect is short-term and political rather than supply-driven.
financialpost.comReutersSep 23, 2020Not enough comparable past events yet for a historical read.
After 86 past neutral macro events, Palm Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% 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.
