# RInggit slips as investors move to safe-haven currencies | The Star

> The ringgit opened lower against the US dollar at 3.9250/9280 from 3.9060/9100 on Tuesday, as investors moved into safe-haven currencies. Dealers also cited new Federal Reserve Chair Jerome Powell's hint at further US rate hikes this year. The ringgit also weakened against the Singapore dollar, British pound and yen, but firmed against the euro.

- Date: 2018-02-27 · published 2018-02-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/66756-ringgit-slips-as-investors-move-to-safe-haven-currencies-the-star
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A stronger dollar on Fed tightening expectations raises the ringgit cost of imported feed ingredients and fuel for Malaysian buyers. Palm oil and other dollar-priced commodities become more expensive in local terms.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2018/02/28/ringgit-slips-investors-move-to-safe-haven-currencies/

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