Global Market: Emerging Asian Currencies Rise as Softer Dollar, Rate-Hike Bets Support Sentiment

Global Market: Emerging Asian currencies rise as softer dollar, rate-hike bets support sentiment

Asian currencies strengthened modestly as a weaker US dollar and fading expectations of a September Federal Reserve rate hike supported emerging markets. However, rising oil prices amid Middle East tensions capped gains. Indonesia remained in focus ahead of Bank Indonesias policy decision, while Asian equities weakened amid broader risk aversion and energy concerns.

Global Market: Emerging Asian currencies rise as softer dollar supports regional markets

Emerging Asian currencies gained on Monday as a weaker US dollar supported regional markets, with Taiwan and Thailand leading gains. Investors also assessed Japan’s slower growth, Malaysia’s inflation data and upcoming Bank Indonesia policy decision, while Middle East tensions and shifting US rate expectations remained key factors for regional markets.

Asian currencies edge higher

Middle East risks remained a key concern for markets Most Asian currencies edged higher on Monday as the dollar slid, while the yen strengthened slightly despite weaker-than-expected Japanese GDP figures. The yen’s USD/JPY pair edged down 0.2% to near 159 yen. Data on Monday showed that Japan’s economy expanded at an annualised 1.1% in the second quarter, below a 2.0% market forecast and down from a revised 1.9% expansion in the previous quarter…