# Thai baht, Malaysian ringgit lead Asian FX lower on extended dollar strength - Markets - Business Recorder

> Most Asian currencies fell on Wednesday, with the Thai baht and Malaysian ringgit weakening up to 0.4% to their lowest since November 2022. The moves followed hawkish Federal Reserve rhetoric that pushed US Treasury yields to multi-year highs. Oil prices had risen nearly 9% so far in September, adding to inflation concern in importers such as Thailand and India.

- Date: 2023-09-27 · published 2023-09-27T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/34366-thai-baht-malaysian-ringgit-lead-asian-fx-lower-on-extended-dollar-strength
- Commodities: [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar and weaker Asian currencies raise the local-currency cost of imported feed ingredients for Asian buyers, while higher crude prices lift energy and freight costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-09-28 | [Asian currencies: Thai baht hits two-month low as oil prices surge - Markets - Business Recorder](https://feedsoft.ai/events/17732-asian-currencies-thai-baht-hits-two-month-low-as-oil-prices-surge-markets.md) | +9.1% | +18.9% |
| WTI | 2021-08-30 | [Dollar pinned as Powell plods toward tapering - Markets - Business Recorder](https://feedsoft.ai/events/45483-dollar-pinned-as-powell-plods-toward-tapering-markets-business-recorder.md) | +0.8% | +9.7% |
| WTI | 2022-06-30 | [Canadian dollar extends winning streak - Business & Finance - Business Recorder](https://feedsoft.ai/events/41176-canadian-dollar-extends-winning-streak-business-and-finance-business-recorder.md) | -6.3% | -11.5% |
| WTI | 2023-01-26 | [Canadian dollar notches two-month high as stocks climb - Markets - Business Recorder](https://feedsoft.ai/events/38036-canadian-dollar-notches-two-month-high-as-stocks-climb-markets-business-recorder.md) | -4.4% | -5.8% |
| WTI | 2023-04-17 | [Indian rupee declines as dollar jumps on Fed policy reassessment - Markets - Business Recorder](https://feedsoft.ai/events/36659-indian-rupee-declines-as-dollar-jumps-on-fed-policy-reassessment-markets.md) | -5.7% | -15.2% |
| DXY | 2023-09-26 | [Thai baht leads Asian currencies lower, pressured by dollar - Markets - Business Recorder](https://feedsoft.ai/events/34379-thai-baht-leads-asian-currencies-lower-pressured-by-dollar-markets-business.md) | +0.8% | +1.3% |
| DXY | 2023-12-02 | [S Korean won, Taiwan dollar lead Asian FX lower - Business & Finance - Business Recorder](https://feedsoft.ai/events/32967-s-korean-won-taiwan-dollar-lead-asian-fx-lower-business-and-finance-business.md) | +0.7% | -0.6% |
| DXY | 2021-03-24 | [China's yuan slips on dollar strength, Sino-West tensions - Markets - Business Recorder](https://feedsoft.ai/events/48336-china-s-yuan-slips-on-dollar-strength-sino-west-tensions-markets-business.md) | +0.8% | -0.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40265363

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