# MYR Could Shed Some Gains From BNM's OPR Move

> Bank Negara Malaysia surprised markets by pausing its policy tightening, while the ringgit gained more than 1% toward 4.30 per dollar as the dollar index fell below 112. Analysts expect the ringgit to face pressure next week from narrowing yield premiums and possible capital outflows.

- Date: 2023-01-21 · published 2023-01-21T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38045-myr-could-shed-some-gains-from-bnm-s-opr-move
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A firmer ringgit lowers the dollar cost of Malaysian palm oil and can support palm pricing, but the narrowing rate premium may weaken the currency. The effect on feed prices is small.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-03-23 | [Gold gains amid dovish tones from Fed — Breakwave Advisors](https://feedsoft.ai/events/36779-gold-gains-amid-dovish-tones-from-fed-breakwave-advisors.md) | -0.7% | -1.1% |
| DXY | 2019-03-20 | [South Africa’s rand gains ahead of Fed decision - Moneyweb](https://feedsoft.ai/events/60378-south-africa-s-rand-gains-ahead-of-fed-decision-moneyweb.md) | +0.4% | +0.4% |
| DXY | 2020-06-08 | [Gold gains as investors bet on dovish signals from Fed - Markets - Business Recorder](https://feedsoft.ai/events/52529-gold-gains-as-investors-bet-on-dovish-signals-from-fed-markets-business-recorder.md) | +0.7% | +0.4% |
| DXY | 2021-02-25 | [Weak U.S. Dollar Benefits Some Ag Commodities \| Feed & Grain](https://feedsoft.ai/events/48780-weak-u-s-dollar-benefits-some-ag-commodities-feed-and-grain.md) | +0.9% | +1.7% |
| DXY | 2020-06-10 | [Possible Fed move to cap yield rise could further weaken U.S. dollar \| Financial Post](https://feedsoft.ai/events/52807-possible-fed-move-to-cap-yield-rise-could-further-weaken-u-s-dollar-financial.md) | +0.8% | +0.8% |
| PALMOIL | 2025-05-22 | [MYR/USD: Ringgit May Gain Most in Southeast Asia on Exporter Conversion - Bloomberg](https://feedsoft.ai/events/24945-myr-usd-ringgit-may-gain-most-in-southeast-asia-on-exporter-conversion-bloomberg.md) | -0.1% | +4.6% |
| PALMOIL | 2024-08-31 | [Ringgit set to gain further against US dollar with support from economic data and Fed moves \| Malay Mail](https://feedsoft.ai/events/29071-ringgit-set-to-gain-further-against-us-dollar-with-support-from-economic-data.md) | +3.9% | +7.1% |
| PALMOIL | 2025-12-01 | [MYR/USD: Malaysia Ringgit Nears Four-Year High as Economy Gains Strength](https://feedsoft.ai/events/22207-myr-usd-malaysia-ringgit-nears-four-year-high-as-economy-gains-strength.md) | +1.9% | -0.1% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2023/01/21/myr-could-shed-some-gains-from-bnms-opr-move/

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