Friday 29 Mar 2024
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SINGAPORE (Nov 12): Palm oil futures are sliding to a three-year low, adding to the pain for the ringgit that's been suffering since the government revealed a wider fiscal deficit. Palm oil is being hit by concerns demand isn't expanding fast enough to absorb mounting stockpiles in the world’s two biggest growers.

Malaysia's central bank also stepped back from sounding hawkish last week, preferring instead to focus on supporting the economy. With the USD flexing its muscles again across the FX complex, it's hard to see much that can stop USD/MYR marching higher in the near term.

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