# Ringgit ends at seven-month high as dollar continues to slip | Malay Mail

> The ringgit closed at its highest level in seven months at 4.1400/1450 against the dollar. A weaker dollar after the Jackson Hole symposium and strong risk appetite supported the currency, alongside a rise in China's August manufacturing PMI to 53.1.

- Date: 2020-09-01 · published 2020-09-01T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/51361-ringgit-ends-at-seven-month-high-as-dollar-continues-to-slip-malay-mail
- 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 stronger ringgit lowers the local cost of dollar-priced feed imports such as soymeal and palm oil. China's firm factory activity also supports commodity demand, though the price effect here is small.

## Read by commodity

- DXY: bearish ▼
- USDMYR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-14 | [Ringgit continues to strengthen vs US dollar](https://feedsoft.ai/events/36680-ringgit-continues-to-strengthen-vs-us-dollar.md) | +0.6% | +0.5% |
| DXY | 2020-11-09 | [Ringgit surges against US dollar at close \| Malay Mail](https://feedsoft.ai/events/50409-ringgit-surges-against-us-dollar-at-close-malay-mail.md) | -0.1% | -1.7% |
| DXY | 2017-06-29 | [Rand extends gains as dollar selling continues - Moneyweb](https://feedsoft.ai/events/70775-rand-extends-gains-as-dollar-selling-continues-moneyweb.md) | +0.3% | -1.7% |
| 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 | 2021-07-30 | [Ringgit opens marginally higher against US dollar \| Malay Mail](https://feedsoft.ai/events/46328-ringgit-opens-marginally-higher-against-us-dollar-malay-mail.md) | +0.3% | +1.2% |

## Sources

- beta.malaymail.com: https://beta.malaymail.com/news/money/2020/09/01/ringgit-ends-at-seven-month-high-as-dollar-continues-to-slip/1899185

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