# RM rebounds against USD in early trade

> The ringgit strengthened to 4.0390/0420 against the US dollar in early trade on Feb 24 from 4.0420/0450 the previous day. Brent rose 0.2% to US$65.37 a barrel on supply concerns, and Fed chair Jerome Powell said the central bank would keep its growth-supporting policy.

- Date: 2021-02-24 · published 2021-02-24T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/48911-rm-rebounds-against-usd-in-early-trade
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A firmer ringgit and higher oil prices can lift Malaysian palm oil costs, which feeds into vegetable oil and feed fat pricing. The move is small and routine.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Sources

- nst.com.my: https://www.nst.com.my/business/2021/02/668467/rm-rebounds-against-usd-early-trade

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