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The ringgit rose against the US dollar on June 11, 2020, after the US Federal Reserve projected a 6.5% contraction in the US economy this year. Malaysian officials also said the country had enough liquidity and had not used foreign borrowing to fund its stimulus.
A firmer ringgit lowers the ringgit cost of palm oil and other Malaysian-linked commodities, which can ease prices for buyers. The move is driven mostly by currency flows rather than supply.
mof.gov.mySaidiJun 11, 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.
