Greenback fades as Singapore dollar, ringgit, baht shine in Asean foreign exchange shift

[SINGAPORE] US-Asean foreign exchange (FX) markets were lukewarm as announcements of a China-US trade agreement revealed few details following talks in London on Wednesday (Jun 11), with widespread uncertainty now becoming the norm for investors.

DBS analysts Eugene Leow and Philip Wee said: “Implied volatility is now reflecting little to no stresses and is essentially back at pre-Liberation Day levels.”

This hardly surprised market analysts, who observed that mere hints of favourable news – in a world where policy reversals have become the norm – are no longer as likely to move markets.