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The ringgit opened lower against the US dollar at 3.9250/9280 from 3.9060/9100 on Tuesday, as investors moved into safe-haven currencies. Dealers also cited new Federal Reserve Chair Jerome Powell's hint at further US rate hikes this year.
The ringgit also weakened against the Singapore dollar, British pound and yen, but firmed against the euro.
A stronger dollar on Fed tightening expectations raises the ringgit cost of imported feed ingredients and fuel for Malaysian buyers. Palm oil and other dollar-priced commodities become more expensive in local terms.
thestar.com.myThe Star OnlineFeb 27, 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.
