crude price appear lower in terms of USD as USD had strengthen against EURO.
Its like Europe is the major consumer of the Fuel and they can only afford to buy at X Euro....when USD strengthens...they still can only pay X Euro and thus its trading price in USD drops...
but this does not change its value in terms Euro - X.
As for Malaysia...their concern is getting paid in RM say Y ringgit per ton....so when the USD trading price of crude oil drops...the RM has to weaken accordingly to get back the RM they used to get earlier , i,e Y ringgit per ton.
George Soros is back to attack every currency, Ringgit once again prove its lousiness to the market I believe the BNM finally lack of resource to defend the currency now.
Dr. M had been active invite foreign intervention, but it isn't easily to make a market sanction in a short time, even Soros has little impact to the market, unless it involves a large group of powerful individual, to the scale of a country, so far only Uncle Sam can declare economy sanction to a country and it is still not guarantee to kill their market.
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Posted by probability > 2016-06-25 17:03 | Report Abuse
actually....I am curious to know why RM or asean currency is more influenced by EURO than USD?
I can understand Brexit has weakening effect on EURO...but why must RM be influenced negatively instead of positively as it is for USD?