# Ringgit still strong at close of trading today, 4.34 against the US dollar, thanks to rate cut forecast | Malay Mail

> The ringgit rose to a near 28-month high of about 4.35 per dollar on August 26, supported by expectations of a US rate cut in September. Analysts said the dollar was weakening on prospects of lower US rates.

- Date: 2024-08-26 · published 2024-08-26T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/29073-ringgit-still-strong-at-close-of-trading-today-4-34-against-the-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer ringgit against a weakening dollar changes the cost of Malaysian palm oil and other ringgit-linked commodities for buyers, and signals broader dollar softness that can support dollar-priced commodities.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-11-09 | [Ringgit surges against US dollar at close \| Malay Mail](https://feedsoft.ai/events/50409-ringgit-surges-against-us-dollar-at-close-malay-mail.md) | -0.1% | -1.7% |
| DXY | 2020-02-29 | [US dollar dives to 7-week low against yen on Fed rate cut hint \| Malay Mail](https://feedsoft.ai/events/54819-us-dollar-dives-to-7-week-low-against-yen-on-fed-rate-cut-hint-malay-mail.md) | -0.8% | +4.0% |
| DXY | 2023-11-28 | [Ringgit strengthens against US dollar amid weak US housing data \| Malay Mail](https://feedsoft.ai/events/33430-ringgit-strengthens-against-us-dollar-amid-weak-us-housing-data-malay-mail.md) | +0.2% | -1.1% |
| DXY | 2021-07-30 | [Ringgit opens marginally higher against US dollar \| Malay Mail](https://feedsoft.ai/events/46328-ringgit-opens-marginally-higher-against-us-dollar-malay-mail.md) | +0.3% | +1.2% |
| DXY | 2025-06-26 | [Ringgit strengthens against US dollar as Fed tariff caution weighs on greenback \| Malay Mail](https://feedsoft.ai/events/24463-ringgit-strengthens-against-us-dollar-as-fed-tariff-caution-weighs-on-greenback.md) | -0.9% | -0.6% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2024/08/26/ringgit-still-strong-at-close-of-trading-today-434-against-the-us-dollar-thanks-to-rate-cut-forecast/148290

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