# AmBank sees stronger ringgit in near term as US dollar weakens | Malay Mail

> AmBank's chief economist expects the ringgit to strengthen against the US dollar in the near term, after the ringgit weakened about 1% in May. He attributes the expected gain to a weaker dollar, firmer oil prices and rising expectations of a rate cut in July.

- Date: 2020-06-04 · published 2020-06-04T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/52887-ambank-sees-stronger-ringgit-in-near-term-as-us-dollar-weakens-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A firmer ringgit makes Malaysian palm oil more expensive in dollar terms, which can weigh on export demand. Higher oil prices, however, support palm oil through biodiesel.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2020/06/04/ambank-sees-stronger-ringgit-in-near-term-as-us-dollar-weakens/1872315

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