# Ringgit opens higher on declining US dollar index

> The ringgit opened higher on December 14 after the Fed signalled interest rate cuts for 2024, with the dollar index falling 0.96% to 102.869. The Fed held its policy rate at 5.25% to 5.50% but projected easing ahead, and the two-year Treasury yield fell 27 basis points.

- Date: 2023-12-14 · published 2023-12-14T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/32988-ringgit-opens-higher-on-declining-us-dollar-index
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A softer dollar tends to support commodity prices priced in dollars, which can lift feed grain and oilseed prices for importers, though this report is mainly about the ringgit's daily move.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 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 | 2021-12-17 | [Ringgit opens lower against US dollar](https://feedsoft.ai/events/43870-ringgit-opens-lower-against-us-dollar.md) | -0.2% | -0.8% |
| DXY | 2020-04-30 | [Ringgit opens higher against USD](https://feedsoft.ai/events/53929-ringgit-opens-higher-against-usd.md) | +0.7% | -1.4% |
| DXY | 2019-11-12 | [Ringgit opens higher against US dollar on American bond yield concerns](https://feedsoft.ai/events/56339-ringgit-opens-higher-against-us-dollar-on-american-bond-yield-concerns.md) | +0.0% | -0.1% |

## Sources

- nst.com.my: https://www.nst.com.my/business/economy/2023/12/990388/ringgit-opens-higher-declining-us-dollar-index

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