The Business Times
SUBSCRIBERS

As US economy heads for a soft landing, Asian currencies to rise against the dollar

google-preferred-sourceAdd BT as a preferred source
Yong Hui Ting

Yong Hui Ting

Published Thu, Jul 27, 2023 · 04:30 PM
    • Expectations of a softer landing for the US dollar was also driven by market beliefs that a pause is on the cards, given the “sequential weakening in activity” and earlier indicated preference against two consecutive hikes.
    • Expectations of a softer landing for the US dollar was also driven by market beliefs that a pause is on the cards, given the “sequential weakening in activity” and earlier indicated preference against two consecutive hikes. PHOTO: NYT

    ASIAN currencies and stocks rallied on Thursday (Jul 27), amid expectations that interest rates were close to their peak, after the US Federal Reserve hiked its target interest rate by another 25 basis points to between 5.25 per cent and 5.5 per cent.

    Analysts now see Asian currencies rising against the US dollar, which fell after the Fed’s move.

    The Federal Open Market Committee (FOMC) said on Wednesday it remained “highly attentive to inflation risks”, and would “continue to assess additional information and its implications for monetary policy”.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    US dollarAsian equitiesAsia StocksUS Federal Reserve

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More