Reported 3 days ago
Asian currencies faced a significant decline on Wednesday, with the South Korean won reaching its lowest point since the financial crisis following the Federal Reserve's recent hawkish comments on interest rates and inflation. This shift in focus, coupled with a reduction in expected rate cuts, has led to a ripple effect across global markets, pushing various currencies, including the Malaysian ringgit and Thai baht, to weak levels against the dollar. Central banks in Asia are now under pressure to manage their currencies amid the dollar's rally.
Source: YAHOO