# Ringgit opens higher against US dollar supported by oil prices | Malay Mail

> The ringgit opened higher against the dollar at about 4.183, supported by crude oil above US$45 a barrel. Brent was trading at US$45.29 and AxiCorp's strategist linked the currency's support to China upholding its Phase One trade deal.

- Date: 2020-08-13 · published 2020-08-13T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/51881-ringgit-opens-higher-against-us-dollar-supported-by-oil-prices-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Firmer oil prices support the ringgit and the wider energy complex, while the trade-deal angle links to US soybean and corn export demand.

## Read by commodity

- BRENT: bullish ▲
- USDMYR: bearish ▼

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2020/08/13/ringgit-opens-higher-against-us-dollar-supported-by-oil-prices/1893490

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