# Ringgit to rebound as US dollar weakens

> The ringgit reached a 29-month high of 4.032 per dollar as the US dollar index fell to its lowest level since April 2018. Analysts expected further gains from a weaker dollar, higher Brent crude near US$51, and investor demand for higher-yielding assets.

- Date: 2020-12-17 · published 2020-12-17T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/49920-ringgit-to-rebound-as-us-dollar-weakens
- 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 weaker dollar and firmer crude support emerging Asian currencies, which can ease the local-currency cost of dollar-priced feed imports. The impact on grain and oilseed prices is indirect.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-15 | [Ringgit Gains Ground As US Dollar Weakens On Lower-Than-Expected CPI Data](https://feedsoft.ai/events/33435-ringgit-gains-ground-as-us-dollar-weakens-on-lower-than-expected-cpi-data.md) | -0.9% | -0.2% |
| DXY | 2020-02-28 | [Baht gains more ground, as US dollar weakens](https://feedsoft.ai/events/54839-baht-gains-more-ground-as-us-dollar-weakens.md) | -0.5% | +4.3% |
| DXY | 2020-03-31 | [US dollar weakens as Fed measure weighs](https://feedsoft.ai/events/10702-us-dollar-weakens-as-fed-measure-weighs.md) | +0.7% | +0.5% |
| DXY | 2021-12-17 | [Ringgit opens lower against US dollar](https://feedsoft.ai/events/43870-ringgit-opens-lower-against-us-dollar.md) | -0.2% | -0.8% |
| DXY | 2023-04-28 | [Ringgit Opens Higher Against US dollar](https://feedsoft.ai/events/36679-ringgit-opens-higher-against-us-dollar.md) | -0.3% | +1.2% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2020/12/18/ringgit-to-rebound-as-us-dollar-weakens/

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