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The ringgit weakened as much as 0.8% against the dollar after the Fed cut rates for a second time this year but signaled no further cuts. Analysts said US yields and the dollar rose and that the ringgit had not rallied on the oil price jump.
The currency is 1.5% weaker year to date.
A stronger dollar and weaker ringgit raise the local cost of imported feed ingredients, while the Fed's signal of no further cuts supports the dollar.
themalaysianreserve.comSep 20, 2019After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not 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.
