Loading…
The ringgit opened lower against the US dollar on July 8, 2020, at 4.2800/2860 from 4.2750/2800, as a stronger greenback followed firmer US economic data. Bank Negara Malaysia cut its overnight policy rate by 25 basis points to a record low of 1.75%.
A weaker ringgit modestly lowers Malaysian dollar-priced palm oil costs for buyers, while the rate cut signals ongoing monetary easing with limited direct feed price impact.
nst.com.myBernamaJul 8, 2020Not 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.
