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The ringgit approached its strongest level in six months against the US dollar as Brent crude climbed to $66.83 a barrel, its highest since November. Traders expect US-China trade talks to be extended beyond the March 1 deadline.
China also indicated it may reduce the price of the East Coast Rail Link project in Malaysia.
Higher crude lifts Malaysia's government finances and supports the ringgit, which matters for palm oil and feed costs priced in local currency. The effect on grain and feed prices is limited.
nst.com.myBLOOMBERGFeb 20, 2019Not enough comparable past events yet for a historical read.
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.
