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Malaysian Prime Minister Najib Razak said on January 23 that Malaysia will never again peg the ringgit to the US dollar. He said the government will focus on lowering the budget deficit and let the currency reflect the economy's strength over the longer term.
Removing the peg risk reduces the chance of a sudden ringgit devaluation, which supports a firmer ringgit against the dollar. A stronger ringgit makes Malaysian palm oil and other exports more expensive in dollar terms, which can weigh on export demand.
reuters.comJan 23, 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.
