Reported 9 months ago
Asian currencies have weakened to their lowest levels in over 19 months as the dollar strengthens, fueled by expectations of higher US interest rates. The Bloomberg Asia Dollar Index fell 0.1%, reaching levels not seen since November 2022. Central banks in Asia are under pressure to defend their currencies, with concerns arising from the dollar's resurgence, yuan and yen weakness, and the potential spillover effects on regional currencies like the South Korean won and Taiwan dollar.
Source: YAHOO