# Ringgit softness persists on risk aversion action on global uncertainties

> The ringgit hit an 11-month low of 4.16 per US dollar on October 11, 2018, as trade-war tensions, rising US interest rates and global growth fears drove risk aversion. Weakness in the Chinese yuan added pressure. An analyst expects the ringgit could reach 4.20 by year-end if sentiment worsens.

- Date: 2018-10-12 · published 2018-10-12T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/62790-ringgit-softness-persists-on-risk-aversion-action-on-global-uncertainties
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Ringgit weakness lowers the local cost of Malaysian palm oil exports, which can support palm oil competitiveness, while broader risk-off sentiment tends to weigh on commodity prices.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-04-23 | [Ringgit Remains Competitive, Inflation In Check Despite Headwinds From Global Geopolitical Tensions And Uncertainties](https://feedsoft.ai/events/42098-ringgit-remains-competitive-inflation-in-check-despite-headwinds-from-global.md) | +1.2% | -1.7% |
| PALMOIL | 2025-05-22 | [MYR/USD: Ringgit May Gain Most in Southeast Asia on Exporter Conversion - Bloomberg](https://feedsoft.ai/events/24945-myr-usd-ringgit-may-gain-most-in-southeast-asia-on-exporter-conversion-bloomberg.md) | -0.1% | +4.6% |
| PALMOIL | 2020-09-29 | [Ringgit rebounds as risk-on mood, oil prices improve](https://feedsoft.ai/events/51354-ringgit-rebounds-as-risk-on-mood-oil-prices-improve.md) | -5.6% | +1.6% |
| PALMOIL | 2019-04-25 | [FXTM: Ringgit undervalued as traders oversell on headline risks](https://feedsoft.ai/events/59836-fxtm-ringgit-undervalued-as-traders-oversell-on-headline-risks.md) | -4.1% | -7.5% |
| PALMOIL | 2020-07-21 | [Ringgit dibuka tinggi, sentimen risiko global kian baik - DestinaAsia](https://feedsoft.ai/events/52379-ringgit-dibuka-tinggi-sentimen-risiko-global-kian-baik-destinaasia.md) | +0.4% | +8.7% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2018/10/12/ringgit-softness-persists-on-risk-aversion-action-on-global-uncertainties/

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