# Ringgit strengthens against US dollar on geopolitical concerns

> The ringgit closed higher against the US dollar on 17 April 2017 at 4.4030/4060, as traders moved into Asian currencies amid North Korea tensions. The dollar also weakened after Trump said it was getting too strong. The ringgit was mixed against other major currencies.

- Date: 2017-04-17 · published 2017-04-17T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/71753-ringgit-strengthens-against-us-dollar-on-geopolitical-concerns
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A firmer ringgit lowers the ringgit cost of dollar-priced Malaysian palm oil, which can ease local pressure on palm oil prices. The move is driven by dollar weakness and risk sentiment rather than a change in palm supply.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- nst.com.my: https://www.nst.com.my/business/2017/04/231446/ringgit-strengthens-against-us-dollar-geopolitical-concerns

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