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The ringgit closed sharply lower against the US dollar on Feb 24, 2020, at 4.2240/2270, tracking local equities. The move reflected domestic political realignment and the rising Covid-19 outbreak abroad, which pushed investors toward gold and US Treasuries.
Global risk aversion and capital flight from riskier Asian currencies raise the local cost of imported feed ingredients priced in dollars, which lifts USD/MYR and adds to import cost pressure.
malaymail.comFeb 24, 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.
