# StanChart’s chief economist says these four currencies will move most on Fed shock

> Standard Chartered's chief economist Marios Maratheftis named the Turkish lira, Indonesian rupiah, Brazilian real and Malaysian ringgit as the emerging-market currencies most vulnerable to a Fed shock. He said a June hike is priced in and expects three hikes this year alongside balance sheet reduction.

- Date: 2017-05-25 · published 2017-05-25T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/70926-stanchart-s-chief-economist-says-these-four-currencies-will-move-most-on-fed
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Currency weakness in Brazil and Malaysia could alter export pricing for soy and palm oil, while a faster Fed path tightens financial conditions for commodity buyers.

## Read by commodity

- SOY: neutral
- USDBRL: bullish ▲
- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2018-03-01 | [Latam currencies weaker with eyes on Fed; stocks edge up](https://feedsoft.ai/events/66187-latam-currencies-weaker-with-eyes-on-fed-stocks-edge-up.md) | -0.2% | +2.9% |
| USDBRL | 2018-05-08 | [Macroscope \| Emerging market currencies feel the heat as US economy brightens \| South China Morning Post](https://feedsoft.ai/events/65215-macroscope-emerging-market-currencies-feel-the-heat-as-us-economy-brightens.md) | +1.9% | +6.3% |
| USDBRL | 2019-03-25 | [Competing Currencies Mostly Bearish for U.S. Crops](https://feedsoft.ai/events/60309-competing-currencies-mostly-bearish-for-u-s-crops.md) | -0.1% | +0.9% |
| USDBRL | 2021-12-09 | [Strong dollar weighs on Latin American currencies \| Financial Post](https://feedsoft.ai/events/43821-strong-dollar-weighs-on-latin-american-currencies-financial-post.md) | +3.1% | +1.5% |
| USDBRL | 2022-11-17 | [Brazil's real, stocks slide after budget proposal; other EM currencies weak \| Financial Post](https://feedsoft.ai/events/38885-brazil-s-real-stocks-slide-after-budget-proposal-other-em-currencies-weak.md) | +0.7% | -0.5% |
| PALMOIL | 2025-06-30 | [Ringgit closes higher against major currencies \| The Star](https://feedsoft.ai/events/24461-ringgit-closes-higher-against-major-currencies-the-star.md) | +2.5% | +5.5% |
| PALMOIL | 2018-08-07 | [Ringgit to remain weaker as US dollar strengthens against most currencies \| Borneo Post Online](https://feedsoft.ai/events/63779-ringgit-to-remain-weaker-as-us-dollar-strengthens-against-most-currencies.md) | +0.0% | +2.6% |
| PALMOIL | 2018-08-06 | [Ringgit falls to 2018 low as Asia currencies weaken \| The Star](https://feedsoft.ai/events/63778-ringgit-falls-to-2018-low-as-asia-currencies-weaken-the-star.md) | +1.8% | +0.9% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/05/25/currencies-federal-reserve-shock-interest-rates-us-economy.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.