Asian currencies against the dollar had minor fluctuations, with the Japanese yen, Singapore dollar, and Taiwanese dollar showing slight gains, while the Chinese yuan experienced a slight decline; overall, there were small changes compared to the end of 2022.
The US dollar weakened slightly against major peers as traders awaited a speech from Federal Reserve Chair Jerome Powell, while the yen pulled away from a nine-month low and China's yuan briefly rose following attempts to bolster the currency.
The US dollar remains strong against major peers and the yen, as Treasury yields rise amid expectations of high US interest rates for a longer period, while China's central bank sets a stronger-than-expected daily midpoint for the yuan to counter mounting pressure on the currency.
Asian currencies slightly rose as U.S. yields increased, prompting Thailand's and China's central banks to stabilize their currencies, while the Philippines' central bank stated it may intervene to support its currency; additionally, traders are anticipating the U.S. Federal Reserve's symposium in Jackson Hole, Wyoming.
Asian markets are expected to follow the global trend of weakness in stocks, a buoyant dollar, elevated bond yields, and souring investor sentiment, with no major catalysts to change the current market condition.
China's recent sale of its US Treasurys is a reflection of economic weakness and an attempt to prop up its weakening currency, not a sign of strength, according to Carson Group.
The combined footprint of Japan and China in the US Treasury market is at its lowest on record, leading to speculation that they may sell dollars and liquidate US Treasuries to support their currencies without causing significant market disruption.
The Pakistani rupee weakened further against the US dollar in the interbank market due to higher demand and uncertainty, while the open market remained stable; however, insiders noted that currency dealers were selling the dollar at higher rates in the open market.
The dollar's status as a global reserve currency is facing challenges as countries like China and India promote trade in their own currencies, digital currencies gain popularity, and geopolitical conflicts threaten the international monetary system dominated by the dollar.
The US dollar weakened against major counterparts due to disappointing economic data, leading to a rally in gold prices and a less dovish Federal Reserve outlook, while the Australian and New Zealand Dollars performed well due to gains in Wall Street; crude oil prices also rallied despite deteriorating economic conditions in China.
JP Morgan predicts that the U.S. dollar is at risk of losing its global reserve status as BRICS countries increase their use of local currencies for trade settlement, although the chances of this happening in the near future are slim.
The Indian rupee weakened as it slipped to the 83 level against the US dollar due to broad weakness in Asian currencies, concerns about China's economic growth, and likely dollar outflows.
Asia stocks fall as weak economic data in China and Europe raise concerns over global growth, while the dollar strengthens as investors assess the outlook for U.S. interest rates.
Emerging market currencies are expected to struggle to recover from their losses this year due to high U.S. Treasury yields, safe-haven demand, and a slowing Chinese economy, keeping the dollar strong, according to a Reuters poll of FX analysts.
Asian shares fell and the dollar's rally stalled as the greenback weakened against most major currencies; concerns over Apple's iPhone sales in China and the expansion of a ban on iPhones in sensitive departments in China to government-backed agencies and state companies also weighed on sentiment.
Asian currencies, including the Japanese yen and the Singapore dollar, are trading against the US dollar with varied movements, while the year-to-date percentage changes for the currencies show fluctuations.
Asian currencies saw mixed movements against the US dollar, with the Japanese yen and Singapore dollar strengthening, while the Taiwanese dollar and Indonesian rupiah weakened.
The dollar remains stable in Asia, while the yuan strengthens due to positive economic data from China.
Circle, the issuer of the USDC stablecoin, is focusing on Asia as it sees stablecoins as a way to improve cross-border payments for businesses in the region.
The US dollar remains stable in Asian trades as the yen and sterling experience slight fluctuations due to upcoming central bank meetings, including the Bank of Japan's policy meeting, the US Federal Reserve's hawkish pause, and the Bank of England's possible interest rate increase.
Asian stocks sink as investors await the Federal Reserve's policy decision and concerns over inflation rise due to a surge in oil prices.
Asian stocks struggle as surging oil prices contribute to inflation and the possibility of higher interest rates, while Brent crude futures remain high and 10-year US Treasury yields reach 16-year highs.
The US dollar remained strong against other currencies as traders awaited the Federal Reserve's rate decision, while the yen hovered near a 10-month low amidst speculation of intervention.
Asian currencies showed mixed performance against the U.S. dollar, with the yen and yuan experiencing slight declines while the rupee remained stable.
The Thai baht is expected to weaken further due to increased volatility in global money and capital markets after the US Federal Reserve's hawkish comments regarding its benchmark interest rate.
The Japanese yen remains weak against the U.S. dollar due to high U.S. Treasury yields and anticipation of the Bank of Japan maintaining its current monetary policies, while the dollar is boosted by the prospect of higher U.S. interest rates.
The yen weakened against the dollar as the Bank of Japan announced it would maintain its accommodative monetary policy, with little indication of rolling it back.
Asian shares fall due to concerns over interest rates, inflation data, and China's economy, while bond investors face the impact of the US Federal Reserve's more hawkish rate projections.
Asian markets may be bolstered by Wall Street's performance, but concerns regarding the surging dollar, rising U.S. Treasury yields, and troubles in the Chinese property sector may dampen investor enthusiasm.
Asian currencies showed mixed movements against the US dollar, with the Japanese yen slightly down, the Singapore dollar up, and the Taiwanese dollar unchanged, among others; overall, there has been varied performance in currency rates across the region in 2023 so far.
Asian currencies, including the Malaysian ringgit, rose in holiday-thinned trading despite a challenging week for regional currencies due to hawkish U.S. Fed rhetoric and surging oil prices, while the U.S. dollar index remained largely flat and Asian stocks mostly traded higher.
Asian currencies against the dollar remained relatively stable, with minimal changes observed in the latest rates, according to data compiled by Reuters.
Asia-Pacific markets rise as U.S. Treasury yields ease from 16-year highs following weak jobs data, with Japan, South Korea, and Australia all trading higher, while Hong Kong's Hang Seng index looks set for a rebound after losses on Wednesday; Carter Worth, CEO of Worth Charting, predicts lower interest rates and stocks by the end of 2023, contrary to consensus forecasts, while Vanguard's Aliaga-Diaz believes there is a limit to how high yields will go due to rate uncertainty; oil prices fall sharply, hitting their lowest level since September 5.
The Singapore dollar may face pressure as the country's economy weakens and investors seek the safety of the US dollar, according to analysts, potentially leading to a drop in the currency's rankings against its Asian counterparts.
Asian markets fall as inflation data raises expectations of Federal Reserve rate hikes; Australian, South Korean, and Japanese shares slip, and the Golden Dragon index of Chinese companies listed in the U.S. records its biggest drop in a month.
Market stability is observed in Asia as US equity futures rise and Treasury yields fall amid efforts to contain the Israel-Hamas conflict and prevent further escalation.
Asian policymakers are using unconventional measures, such as bond sales, to protect their currencies from the impact of rising US interest rates and global tensions, which are causing outflows from the region's lower benchmark rates; while these measures don't replace the use of foreign-exchange reserves, they reduce the amount needed.
The Asian trading session saw the Chinese GDP grow by 4.9% in Q3, beating expectations, leading to gains for the AUD/USD and NZD/USD pairs; meanwhile, the US Dollar weakened against major currencies, especially the Australian Dollar.
Southeast Asian currencies are trading near their lows for the year against a surging dollar, causing concern for regional governments and businesses due to higher import costs and uncertainties in big markets.
The Japanese Yen is struggling against the US Dollar as the Bank of Japan considers changes to its yield curve control program, while Treasury yields remain strong and a clean break above 150 for USD/JPY could lead to volatility.
The US dollar weakened against a basket of currencies as Treasury yields fell, while attention turned to upcoming US economic data ahead of the Federal Reserve's monetary policy meeting.
The Asian financial markets are experiencing turmoil as the region's currencies decline and foreign capital outflows increase due to the divergence in global monetary policies and the rise in US Treasury bond yields, although Asian economies are in a stronger position now than they were a decade ago.
