# Ringgit opens lower against US dollar

> The ringgit opened lower against the US dollar on July 9, 2020, at 4.2670/2750 from 4.2600/2650 the prior close. The move followed falling oil prices and investor caution over a surge in US Covid-19 cases.

- Date: 2020-07-10 · published 2020-07-10T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/52374-ringgit-opens-lower-against-us-dollar
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower oil prices weaken the ringgit and reduce the revenue of Malaysia's oil-linked economy, a minor signal for regional palm oil pricing.

## Read by commodity

- WTI: bearish ▼
- USDMYR: bullish ▲

## Sources

- nst.com.my: https://www.nst.com.my/business/2020/07/607348/ringgit-opens-lower-against-us-dollar

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