# Asian FX, stocks pressured by higher US rates outlook - Markets - Business Recorder

> Asian currencies and stocks fell at the start of the week as investors priced in further US Fed tightening after strong January PCE inflation data. The Malaysian ringgit fell as much as 0.9% to 4.47 per dollar, and the dollar index rose 0.6% to 105.23.

- Date: 2023-02-27 · published 2023-02-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/37599-asian-fx-stocks-pressured-by-higher-us-rates-outlook-markets-business-recorder
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of higher and longer US rates strengthen the dollar and weaken emerging-market currencies such as the ringgit. A weaker ringgit can make Malaysian palm oil cheaper in dollar terms, which can weigh on palm oil prices.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-10-26 | [Asia FX, stocks slip as risk-off sentiment prevails - Markets - Business Recorder](https://feedsoft.ai/events/33927-asia-fx-stocks-slip-as-risk-off-sentiment-prevails-markets-business-recorder.md) | +0.0% | -2.9% |
| DXY | 2023-12-05 | [Most Asian FX, stocks fall after traders reconsider Fed rate cut bets - Markets - Business Recorder](https://feedsoft.ai/events/32968-most-asian-fx-stocks-fall-after-traders-reconsider-fed-rate-cut-bets-markets.md) | +0.4% | -0.6% |
| DXY | 2023-04-21 | [Asian FX set for weekly losses as Fed rate hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/36650-asian-fx-set-for-weekly-losses-as-fed-rate-hike-bets-weigh-markets-business.md) | +0.3% | +0.8% |
| 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 | 2024-10-24 | [Asian FX, stocks weaken on slower Fed cut hopes and potential Trump win - Markets - Business Recorder](https://feedsoft.ai/events/28143-asian-fx-stocks-weaken-on-slower-fed-cut-hopes-and-potential-trump-win-markets.md) | +0.1% | +1.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40228609

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