# Ringgit Weekly Outlook - 22 September 2023 - Kenanga Foreign Exchange

> A Kenanga weekly outlook expects the ringgit to stay weak around 4.65-4.70 per dollar, as the USD index holds above 105.0 after the Fed's hawkish pause. It cites a negative Malaysia-US 10-year yield differential and weaker Malaysian trade data. The outlook assumes the dollar consolidates between 105.0 and 105.5 next week.

- Date: 2023-09-22 · published 2023-09-22T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/34368-ringgit-weekly-outlook-22-september-2023-kenanga-foreign-exchange
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A persistently strong dollar keeps imported feed ingredients more expensive in ringgit terms for Malaysian buyers.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-10-05 | [South Korea foreign-exchange reserves fall for second month in September on market intervention](https://feedsoft.ai/events/33875-south-korea-foreign-exchange-reserves-fall-for-second-month-in-september-on.md) | -0.3% | -0.6% |
| DXY | 2024-02-20 | [Foreign exchange rate forecast to be under control in 2024](https://feedsoft.ai/events/31997-foreign-exchange-rate-forecast-to-be-under-control-in-2024.md) | -0.1% | -0.5% |
| DXY | 2019-09-21 | [Foreign exchange rate 22.9: Fed cuts interest rates, USD increases, should we sell for profit?](https://feedsoft.ai/events/57358-foreign-exchange-rate-22-9-fed-cuts-interest-rates-usd-increases-should-we-sell.md) | +0.5% | -1.0% |
| DXY | 2024-12-23 | [Fed’s foreseen rate cuts affect foreign exchange rate](https://feedsoft.ai/events/27264-fed-s-foreseen-rate-cuts-affect-foreign-exchange-rate.md) | +0.7% | +0.3% |
| DXY | 2021-11-08 | [Outlook For Pound US Dollar Exchange Rate: GBP/USD Sinks On Fed And BoE Decisions](https://feedsoft.ai/events/44295-outlook-for-pound-us-dollar-exchange-rate-gbp-usd-sinks-on-fed-and-boe-decisions.md) | +0.5% | +1.6% |

## Sources

- kenangafx.com.my: https://www.kenangafx.com.my/ringgit-weekly-outlook/

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