# Asian currencies downcast, ringgit top laggard as investors flock to US dollar | Malay Mail

> Asian currencies were subdued on May 25 as investors moved to safe-haven assets amid a possible US debt ceiling deadlock and expectations of further Fed rate hikes. The ringgit was the weakest regional currency, falling 0.6% in its seventh straight session of losses. The Singapore dollar also fell after the city-state's economy contracted in the first quarter.

- Date: 2023-05-25 · published 2023-05-25T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/36218-asian-currencies-downcast-ringgit-top-laggard-as-investors-flock-to-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Broad Asian currency weakness against the dollar raises import costs across the region. It also reflects softer regional growth, which could weigh on demand for feed.

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2023/05/25/asian-currencies-downcast-ringgit-top-laggard-as-investors-flock-to-us-dollar/70918

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