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The ringgit is trading in a tight range against the US dollar after hitting its strongest level since mid-2015 at RM3.86 on March 28. It has since slipped to about RM3.89, as the 10-year US Treasury yield approaches 3% and the dollar firms.
Traders are also weighing the upcoming general election.
Higher US yields and election risk offset the usual support that higher oil prices give the commodity-linked ringgit, so the currency is unlikely to move much until the election outcome is clearer. For feed buyers, Malaysian currency moves have little direct effect on palm oil or meal prices.
themalaysianreserve.comApr 24, 2018Not 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.
