# Ringgit Could Come Under Pressure Ahead Of FOMC Meeting But Limited

> The ringgit has traded below 4.40 against the US dollar since the previous Friday, supported by a weaker dollar index below 105 and a stronger yuan. Analysts at Kenanga expect the Fed to slow its hikes from 75 to 50 basis points at its upcoming FOMC meeting. They also see the ringgit facing some depreciation pressure from the widening BNM-Fed policy-rate gap.

- Date: 2022-12-10 · published 2022-12-10T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38502-ringgit-could-come-under-pressure-ahead-of-fomc-meeting-but-limited
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A possible ringgit weakening after the FOMC would raise the local currency cost of dollar-priced feed imports. Expectations are already priced in, so the effect is limited.

## Read by commodity

- USDMYR: neutral

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2022/12/10/ringgit-could-come-under-pressure-ahead-of-fomc-meeting-but-limited/

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