# Ringgit opens lower as US rate hike expectation weighs on sentiment | The Star

> The ringgit opened lower at 4.3350/3395 against the dollar, down from Friday's close of 4.3320/3350. Traders reacted to expectations of further US interest rate hikes.

- Date: 2023-02-13 · published 2023-02-13T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/37603-ringgit-opens-lower-as-us-rate-hike-expectation-weighs-on-sentiment-the-star
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

US rate hike expectations strengthen the dollar and weigh on the ringgit. A weaker ringgit can reduce the local-currency cost of Malaysian palm oil exports, which can influence palm oil prices.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2023/02/13/ringgit-opens-lower-as-us-rate-hike-expectation-weighs-on-sentiment

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