# Thai baht, Malaysian ringgit sink to three-month lows against dollar - Nikkei Asia

> Emerging-market currencies including the Thai baht and Malaysian ringgit slid to three-month lows against the dollar. The moves followed stronger-than-expected U.S. economic data that reduced expectations of early Federal Reserve rate cuts. Emerging-market central banks are reluctant to cut rates to defend their currencies.

- Date: 2024-02-15 · published 2024-02-15T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/31954-thai-baht-malaysian-ringgit-sink-to-three-month-lows-against-dollar-nikkei-asia
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A stronger dollar and weaker Asian currencies raise the cost of imported feed ingredients priced in dollars for buyers in those markets, while weaker local currencies can make Asian exports more competitive.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲
- USDTHB: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-27 | [Thai baht, Malaysian ringgit lead Asian FX lower on extended dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/34366-thai-baht-malaysian-ringgit-lead-asian-fx-lower-on-extended-dollar-strength.md) | +1.1% | +1.1% |
| DXY | 2022-10-31 | [Ringgit ends lower against US dollar \| Malay Mail](https://feedsoft.ai/events/39386-ringgit-ends-lower-against-us-dollar-malay-mail.md) | -0.1% | -2.8% |
| DXY | 2025-09-26 | [Yen dips to 2-month low against dollar as investors bet on longer BOJ pause - Nikkei Asia](https://feedsoft.ai/events/23126-yen-dips-to-2-month-low-against-dollar-as-investors-bet-on-longer-boj-pause.md) | -0.1% | +0.3% |
| DXY | 2024-03-24 | [Strong US dollar hits Thai baht, Malaysian ringgit hardest among Asean currencies  - The Business Times](https://feedsoft.ai/events/31494-strong-us-dollar-hits-thai-baht-malaysian-ringgit-hardest-among-asean.md) | -0.1% | +1.6% |
| DXY | 2016-06-24 | [Euro sinks to three-month low vs. dollar](https://feedsoft.ai/events/6958-euro-sinks-to-three-month-low-vs-dollar.md) | +1.7% | +2.5% |

## Sources

- asia.nikkei.com: https://asia.nikkei.com/business/markets/currencies/thai-baht-malaysian-ringgit-sink-to-three-month-lows-against-dollar

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