# Ringgit extends downtrend vs dollar ahead of US fed decision on interest rates next week | Malay Mail

> The ringgit ended lower against the dollar at 4.7225/7275, extending its losing streak ahead of the US Federal Reserve decision on November 2. Analysts expected a 75 basis point Fed hike, which would pressure the ringgit since Malaysian rate increases were expected to lag.

- Date: 2022-10-28 · published 2022-10-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39383-ringgit-extends-downtrend-vs-dollar-ahead-of-us-fed-decision-on-interest-rates
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A widening rate gap keeps the dollar firm and the ringgit weak, which can raise Malaysian feed and input costs. The effect on grain markets is modest.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-19 | [Ringgit extends downtrend vs dollar ahead of US Federal Open Market Committee meeting \| Malay Mail](https://feedsoft.ai/events/34369-ringgit-extends-downtrend-vs-dollar-ahead-of-us-federal-open-market-committee.md) | +0.8% | +1.6% |
| DXY | 2023-04-11 | [Ringgit continues downtrend against greenback ahead of US inflation report \| Malay Mail](https://feedsoft.ai/events/36681-ringgit-continues-downtrend-against-greenback-ahead-of-us-inflation-report.md) | -0.4% | -1.0% |
| DXY | 2021-03-30 | [Ringgit ends lower on firmer US dollar \| Malay Mail](https://feedsoft.ai/events/48386-ringgit-ends-lower-on-firmer-us-dollar-malay-mail.md) | -0.5% | -1.9% |
| DXY | 2020-10-28 | [Sterling drops vs dollar; one-week volatility jumps ahead of US elections \| Malay Mail](https://feedsoft.ai/events/50878-sterling-drops-vs-dollar-one-week-volatility-jumps-ahead-of-us-elections-malay.md) | +0.4% | -1.6% |
| DXY | 2022-10-31 | [Ringgit ends lower against US dollar \| Malay Mail](https://feedsoft.ai/events/39386-ringgit-ends-lower-against-us-dollar-malay-mail.md) | -0.1% | -2.8% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2022/10/28/ringgit-extends-downtrend-vs-dollar-ahead-of-us-fed-decision-on-interest-rates-next-week/36109

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