# Ringgit opens stronger versus US dollar, major currencies

> The ringgit opened stronger against the US dollar and several major currencies on July 27 after the Fed raised its key rate to 5.50%, a 22-year high. The US Dollar Index eased to 101.02 and the two-year Treasury yield slipped, and analysts said the Fed will stay data-dependent.

- Date: 2023-07-27 · published 2023-07-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/35323-ringgit-opens-stronger-versus-us-dollar-major-currencies
- 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 weaker dollar and firmer ringgit lower the local cost of imported feed ingredients, while the Fed's stance shapes global dollar-denominated commodity prices. The price effect on feed is small.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2025-06-30 | [Ringgit closes higher against major currencies \| The Star](https://feedsoft.ai/events/24461-ringgit-closes-higher-against-major-currencies-the-star.md) | -0.0% | +0.8% |
| 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 | 2023-04-14 | [Ringgit continues to strengthen vs US dollar](https://feedsoft.ai/events/36680-ringgit-continues-to-strengthen-vs-us-dollar.md) | +0.6% | +0.5% |
| DXY | 2023-12-14 | [Ringgit opens higher on declining US dollar index](https://feedsoft.ai/events/32988-ringgit-opens-higher-on-declining-us-dollar-index.md) | -1.3% | -1.3% |

## Sources

- nst.com.my: https://www.nst.com.my/business/2023/07/935394/ringgit-opens-stronger-versus-us-dollar-major-currencies

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