# Ringgit extends gains to close higher against US dollar | Malay Mail

> The ringgit closed higher against the US dollar for a fourth straight session, trading at 4.1045/1085 versus 4.1260/1290 the prior Friday. Analysts attributed the move to expectations of a US-China phase one trade deal signing and a sell-off in the greenback. Brent crude rose almost 1% to US$66.93 per barrel.

- Date: 2019-12-30 · published 2019-12-30T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/55827-ringgit-extends-gains-to-close-higher-against-us-dollar-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A firmer ringgit lowers the ringgit cost of Malaysian palm oil exports, which can support CPO and dampen the ringgit-denominated price of imported feed ingredients. Trade-deal optimism also reduces demand-side risk for commodities.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- beta.malaymail.com: https://beta.malaymail.com/news/money/2019/12/30/ringgit-extends-gains-to-close-higher-against-us-dollar1/1823350

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