# Ringgit hits 28-month high against US dollar as Fed says its time to adjust policy

> The ringgit reached a 28-month high against the US dollar after the Federal Reserve signaled it was time to adjust policy. Local coverage also flagged a possible strong El Niño expected in November.

- Date: 2024-08-26 · published 2024-08-26T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/29075-ringgit-hits-28-month-high-against-us-dollar-as-fed-says-its-time-to-adjust
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Fed easing signals a weaker dollar, which supports dollar-priced commodities, while a firmer ringgit trims Malaysian palm oil's competitiveness; a possible strong El Niño could later tighten palm supply.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-09-01 | [Sterling hits six-month high against fading dollar](https://feedsoft.ai/events/18143-sterling-hits-six-month-high-against-fading-dollar.md) | -0.6% | +2.1% |
| DXY | 2023-04-28 | [Ringgit Opens Higher Against US dollar](https://feedsoft.ai/events/36679-ringgit-opens-higher-against-us-dollar.md) | -0.3% | +1.2% |
| DXY | 2017-07-27 | [Pound hits 10-month high against dollar after Fed caution – as it happened \| Business \| The Guardian](https://feedsoft.ai/events/70205-pound-hits-10-month-high-against-dollar-after-fed-caution-as-it-happened.md) | -0.6% | -0.5% |
| DXY | 2024-09-23 | [Bangkok Post - Baht at 19-month high against US dollar](https://feedsoft.ai/events/28597-bangkok-post-baht-at-19-month-high-against-us-dollar.md) | -0.2% | +2.5% |
| DXY | 2025-09-17 | [BernamaBiz - Ringgit Opens Higher Against Us Dollar On Softer Fed Outlook](https://feedsoft.ai/events/23163-bernamabiz-ringgit-opens-higher-against-us-dollar-on-softer-fed-outlook.md) | +0.4% | +1.5% |

## Sources

- nst.com.my: https://www.nst.com.my/business/economy/2024/08/1096694/ringgit-hits-28-month-high-against-us-dollar-fed-says-its-time

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