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Malaysian equities fell and the ringgit slid to 4.093 per US dollar, its weakest since November 2017, as a global sell-off spread on fears of contagion from Turkey's currency crisis. Investors moved into the US dollar, yen and Swiss franc as safe havens.
AmBank Research warned that emerging markets reliant on dollar debt face pressure.
Emerging-market currency stress raises the cost of dollar-denominated imports and can weigh on Malaysian palm oil and feed-linked demand, while a firmer dollar tends to pressure dollar-priced agricultural commodities.
thestar.com.myCECILIA KOKAug 13, 2018After 51 past bearish macro events, Palm Oil moved a median -1.3% over 5 sessions (35% higher; middle half -4.1% to +1.1%), and -1.8% over 20.
After 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.
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.
