# Ringgit opens lower against US dollar amid feats of accelerating inflation | Malay Mail

> The ringgit opened lower on June 1 as a stronger US dollar index and rising Treasury yields reflected fears of further global inflation. The dollar index rose to 101.786 at the end of May. The Fed is set to begin shrinking its balance sheet and is expected to raise rates by 50 basis points at its June meeting.

- Date: 2022-06-01 · published 2022-06-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/41235-ringgit-opens-lower-against-us-dollar-amid-feats-of-accelerating-inflation
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A stronger dollar raises the ringgit cost of dollar-priced feed and oilseed imports. The expected Fed tightening keeps pressure on emerging-market currencies.

## Read by commodity

- DXY: bullish ▲
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| DXY | 2024-10-28 | [Ahead of US election, ringgit closes lower against US dollar amid cautious sentiment \| Malay Mail](https://feedsoft.ai/events/28137-ahead-of-us-election-ringgit-closes-lower-against-us-dollar-amid-cautious.md) | +0.2% | +1.9% |
| DXY | 2023-08-23 | [Ringgit ends lower against US dollar on economic uncertainties \| Malay Mail](https://feedsoft.ai/events/34848-ringgit-ends-lower-against-us-dollar-on-economic-uncertainties-malay-mail.md) | -0.1% | +0.5% |
| 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 | 2018-11-13 | [Ringgit ends lower against US dollar \| FMT](https://feedsoft.ai/events/62311-ringgit-ends-lower-against-us-dollar-fmt.md) | -0.4% | -0.2% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2022/06/01/ringgit-opens-lower-against-us-dollar-amid-feats-of-accelerating-inflation/9981

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