# Ringgit reverses gains on increasing US bond yields | Scoop

> The ringgit opened lower against the US dollar on rising US bond yields, after US new home sales rose 12.3% in September to 759,000 units. Analysts expect the currency to stay soft near the 4.78 range.

- Date: 2023-10-26 · published 2023-10-26T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/33893-ringgit-reverses-gains-on-increasing-us-bond-yields-scoop
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Strong US data supporting higher-for-longer Fed rates keeps the dollar firm, which raises the cost of dollar-priced feed imports for Malaysian buyers.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-01-26 | [Ringgit Dips On Increasing Demand For U.S. Dollar](https://feedsoft.ai/events/32375-ringgit-dips-on-increasing-demand-for-u-s-dollar.md) | -0.4% | +0.2% |
| DXY | 2023-12-11 | [Ringgit opens on softer note against US dollar \| Scoop](https://feedsoft.ai/events/32989-ringgit-opens-on-softer-note-against-us-dollar-scoop.md) | -0.8% | -0.9% |
| DXY | 2021-09-27 | [U.S. dollar gains, tracks rise in Treasury yields](https://feedsoft.ai/events/45255-u-s-dollar-gains-tracks-rise-in-treasury-yields.md) | +0.5% | -0.1% |
| DXY | 2018-10-04 | [/-Bond yields surge in U.S. Treasuries sell-off, stocks sink globally \| Reuters](https://feedsoft.ai/events/62716-bond-yields-surge-in-u-s-treasuries-sell-off-stocks-sink-globally-reuters.md) | +0.2% | +1.5% |
| DXY | 2022-10-19 | [Dollar gains with Treasury yields, sterling tumbles on hot inflation](https://feedsoft.ai/events/39400-dollar-gains-with-treasury-yields-sterling-tumbles-on-hot-inflation.md) | -0.4% | -3.6% |

## Sources

- scoop.my: https://www.scoop.my/news/128823/ringgit-reverses-gains-on-increasing-us-bond-yields/

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