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

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”.

    US dollarAsian equitiesAsia StocksUS Federal Reserve

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