# Ringgit rises against the greenback as US economy contracts | FMT

> The ringgit strengthened against the US dollar at the open on July 29, 2022, after weaker US Treasury yields followed a US economic contraction in Q2 2022. Analysts said global recession concerns and US-China tensions over Taiwan could keep Asian currencies subdued.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/40745-ringgit-rises-against-the-greenback-as-us-economy-contracts-fmt
- 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 firmer ringgit makes Malaysian-priced imports such as feed ingredients slightly cheaper, while the broad dollar weakness linked to US slowdown fears can modestly support dollar-denominated grain and oilseed prices.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-31 | [Ringgit opens higher as cooling US economy takes steam out of greenback \| Malay Mail](https://feedsoft.ai/events/18624-ringgit-opens-higher-as-cooling-us-economy-takes-steam-out-of-greenback-malay.md) | -0.1% | -1.1% |
| DXY | 2025-06-26 | [Ringgit strengthens against US dollar as Fed tariff caution weighs on greenback \| Malay Mail](https://feedsoft.ai/events/24463-ringgit-strengthens-against-us-dollar-as-fed-tariff-caution-weighs-on-greenback.md) | -0.9% | -0.6% |
| DXY | 2022-03-31 | [Ringgit continues upward momentum against US dollar](https://feedsoft.ai/events/42530-ringgit-continues-upward-momentum-against-us-dollar.md) | +0.8% | +3.8% |
| DXY | 2019-02-11 | [Feb 11: Ringgit continues upward momentum against USD](https://feedsoft.ai/events/60864-feb-11-ringgit-continues-upward-momentum-against-usd.md) | +0.4% | +0.4% |
| DXY | 2023-09-29 | [Ringgit Rises Against U.S. Dollar In Early Trade As Risk Appetite Improves](https://feedsoft.ai/events/34367-ringgit-rises-against-u-s-dollar-in-early-trade-as-risk-appetite-improves.md) | +1.1% | +0.9% |

## Sources

- freemalaysiatoday.com: https://www.freemalaysiatoday.com/category/business/local-business/2022/07/29/ringgit-rises-against-the-greenback-as-us-economy-contracts

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