# Local Political Uncertainty And Strong USD Demand, Puts Ringgit In Bearish Territory

> The ringgit fell more than 0.7% week on week against the dollar, driven by a spike in US 10-year Treasury yields and hawkish Fed signals. Domestic political uncertainty and yuan weakness pushed the currency near its all-time low of 4.77 per dollar.

- Date: 2022-10-25 · published 2022-10-25T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39382-local-political-uncertainty-and-strong-usd-demand-puts-ringgit-in-bearish
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Persistent dollar strength and a weaker ringgit can raise Malaysian import costs and shift palm oil export competitiveness. The impact on feed commodity prices is indirect.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-01-28 | [Sterling hits year low vs dollar on Fed rate hike fears and UK political risks](https://feedsoft.ai/events/43376-sterling-hits-year-low-vs-dollar-on-fed-rate-hike-fears-and-uk-political-risks.md) | -0.9% | -0.6% |
| DXY | 2018-04-30 | [British Pound To US Dollar Exchange Rate Continues To Tumble As Political Uncertainties Grip Pound \| Exchange Rates UK](https://feedsoft.ai/events/65765-british-pound-to-us-dollar-exchange-rate-continues-to-tumble-as-political.md) | +1.0% | +2.2% |
| DXY | 2022-09-08 | [The Commodities Feed: USD strength and demand worries \| articles \| ING THINK](https://feedsoft.ai/events/14903-the-commodities-feed-usd-strength-and-demand-worries-articles-ing-think.md) | -0.3% | +1.6% |
| DXY | 2022-04-28 | [British Pound edges higher, US Dollar remains strong](https://feedsoft.ai/events/42088-british-pound-edges-higher-us-dollar-remains-strong.md) | +0.1% | -0.4% |
| DXY | 2024-01-26 | [Ringgit Dips On Increasing Demand For U.S. Dollar](https://feedsoft.ai/events/32375-ringgit-dips-on-increasing-demand-for-u-s-dollar.md) | -0.4% | +0.2% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2022/10/25/local-political-uncertainty-and-strong-usd-demand-puts-ringgit-in-bearish-territory/

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