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Bank Negara Malaysia governor Nor Shamsiah Mohd Yunus said the ringgit remains resilient despite contagion worries from Turkey's lira plunge, having depreciated only 0.9% against the dollar this year. She attributed the decline mainly to external factors, including faster expected US rate hikes, trade tensions and Turkish developments.
The central bank said it will keep markets orderly and liquidity sufficient.
A weaker ringgit makes Malaysian palm oil cheaper in dollar terms and supports exports, while a stable central bank reduces the risk of abrupt currency-driven moves in palm oil and other Malaysian-linked commodity prices.
themalaysianreserve.comDzulAug 20, 2018After 86 past neutral macro events, Palm Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +2.0%), and +1.0% 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.
