# Ringgit snaps seven-day losing streak as market enters correction mode | Malay Mail

> The ringgit snapped a seven-day losing streak on April 26, trading at 4.3545/3570 per dollar. Analysts cited fears over Chinese lockdowns and a dollar at a two-year high on expectations of aggressive Fed rate hikes.

- Date: 2022-04-26 · published 2022-04-26T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/42100-ringgit-snaps-seven-day-losing-streak-as-market-enters-correction-mode-malay
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Continued ringgit weakness reflects China demand fears that could weigh on Malaysian palm oil export demand and regional commodity prices, while a firm dollar pressures dollar-priced feed commodities.

## Read by commodity

- USDMYR: neutral

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2022/04/26/ringgit-snaps-seven-day-losing-streak-as-market-enters-correction-mode/2055757

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