Malaysian ringgit opens weaker at 4.0380/0445 as Brent hits US$95.46 and Fed hike odds rise to 65%
AI Market Summary
The Malaysian ringgit weakened as Brent crude rose to about $95.46/bbl, intensifying inflation concerns and lifting market-implied odds of a September Fed hike to roughly 65%. The stronger policy-rate outlook supported the USD, with DXY up ~0.25%, pressuring EM FX. Geopolitical risk tied to renewed US-Iran military activity is reinforcing the bid for dollars and adding volatility across regional currencies.
Impact level
● Medium
Affected assets
NCSIDXY2USD/USDT-0.03%
AI Insight · NCSIDXY2USD/USDTAI Insight
▼ Bearish
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The Malaysian ringgit opened weaker against the US dollar on Wednesday at 4.0380/0445. Analysts linked the move to Brent crude rising to US$95.46 a barrel, which has lifted inflation worries and pushed market pricing for a US Federal Reserve rate hike at the September meeting to 65%. The US dollar index (DXY) was up 0.25% at 99.677 points, adding pressure on the ringgit, according to Bernama.
