# Ringgit Dips On Increasing Demand For U.S. Dollar

> The ringgit opened lower against the US dollar as US 2023 GDP growth of 2.5% beat the 1.9% recorded in 2022, lifting demand for the greenback. The ringgit traded at 4.736 per dollar in morning trade.

- Date: 2024-01-26 · published 2024-01-26T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32375-ringgit-dips-on-increasing-demand-for-u-s-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

Stronger US growth and a firmer dollar tend to weigh on dollar-priced commodities and raise the cost of imported feed for Malaysia, though the effect here is a small intraday move.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-22 | [Commodity prices down on rising dollar demand](https://feedsoft.ai/events/39941-commodity-prices-down-on-rising-dollar-demand.md) | +0.0% | +1.6% |
| DXY | 2023-10-26 | [Ringgit reverses gains on increasing US bond yields \| Scoop](https://feedsoft.ai/events/33893-ringgit-reverses-gains-on-increasing-us-bond-yields-scoop.md) | +0.0% | -2.9% |
| DXY | 2021-06-17 | [Dollar Tipped to Remain in Demand Following Fed](https://feedsoft.ai/events/6133-dollar-tipped-to-remain-in-demand-following-fed.md) | +1.1% | +1.7% |
| DXY | 2024-11-14 | [Rising dollar and rain forecasts weigh on US wheat](https://feedsoft.ai/events/27444-rising-dollar-and-rain-forecasts-weigh-on-us-wheat.md) | -0.1% | -0.0% |
| DXY | 2024-05-30 | [The dollar's strength resumed in the aftermath of rising interest rates as demand for U.S. governmen.. - MK](https://feedsoft.ai/events/30495-the-dollar-s-strength-resumed-in-the-aftermath-of-rising-interest-rates-as.md) | +0.3% | +1.8% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2024/01/26/ringgit-dips-on-increasing-demand-for-u-s-dollar/

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