# Ringgit opens higher as US dollar takes a breather

> The ringgit opened higher against the US dollar on Aug 18 as the greenback eased on concerns about Fed policy and China's economy. Analysts said USD/MYR looked oversold and Malaysia's Q2 GDP was expected to slow to 3.3 percent.

- Date: 2023-08-18 · published 2023-08-18T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/34849-ringgit-opens-higher-as-us-dollar-takes-a-breather
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Currency moves in the ringgit feed directly into Malaysian feed and palm oil import costs, and a softer dollar tends to ease pressure on dollar-priced commodities.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- nst.com.my: https://www.nst.com.my/business/2023/08/944368/ringgit-opens-higher-us-dollar-takes-breather

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