Asian currencies are once again under pressure from the US Dollar in\nthis morning\u2019s trading. The strengthening greenback has pushed the\nmajority of Asian currencies into the red.<\/p>\n
According to Refinitiv data on Tuesday (1\/9\/2026) at 09:16 WIB, seven\nout of nine Asian currencies weakened against the US Dollar, while two\nmanaged to gain ground.<\/p>\n
The Malaysian Ringgit faced the deepest pressure in Asia this\nmorning, weakening 0.30% to MYR 4.034\/US.S<\/em>o<\/em>u<\/em>t<\/em>h<\/em>K<\/em>o<\/em>r<\/em>e<\/em>a<\/em>\u2032s<\/em>W<\/em>o<\/em>n<\/em>f<\/em>o<\/em>l<\/em>l<\/em>o<\/em>w<\/em>e<\/em>d<\/em>w<\/em>i<\/em>t<\/em>h<\/em>a<\/em>0.24<\/span>,\nand the Thai Baht also corrected by 0.12% to THB 33.18\/US$.<\/p>\n The Indonesian Rupiah also moved lower, with the Garuda currency\ndropping 0.06% to Rp17,720\/US.T<\/em>h<\/em>e<\/em>S<\/em>i<\/em>n<\/em>g<\/em>a<\/em>p<\/em>o<\/em>r<\/em>e<\/em>D<\/em>o<\/em>l<\/em>l<\/em>a<\/em>r<\/em>w<\/em>e<\/em>a<\/em>k<\/em>e<\/em>n<\/em>e<\/em>d<\/em>b<\/em>y<\/em>0.05<\/span>,\nfollowed by the Japanese Yen, which fell 0.03% to JPY 159.79\/US.T<\/em>h<\/em>e<\/em>C<\/em>h<\/em>i<\/em>n<\/em>e<\/em>s<\/em>e<\/em>Y<\/em>u<\/em>a<\/em>n<\/em>a<\/em>l<\/em>s<\/em>o<\/em>s<\/em>a<\/em>w<\/em>a<\/em>s<\/em>l<\/em>i<\/em>g<\/em>h<\/em>t<\/em>c<\/em>o<\/em>r<\/em>r<\/em>e<\/em>c<\/em>t<\/em>i<\/em>o<\/em>n<\/em>o<\/em>f<\/em>0.01<\/span>.<\/p>\n On the other hand, the Taiwan Dollar was the strongest performer in\nAsia, gaining 0.25% to TWD 31.613\/US.T<\/em>h<\/em>e<\/em>P<\/em>h<\/em>i<\/em>l<\/em>i<\/em>p<\/em>p<\/em>i<\/em>n<\/em>e<\/em>P<\/em>e<\/em>s<\/em>o<\/em>a<\/em>l<\/em>s<\/em>o<\/em>m<\/em>o<\/em>v<\/em>e<\/em>d<\/em>p<\/em>o<\/em>s<\/em>i<\/em>t<\/em>i<\/em>v<\/em>e<\/em>l<\/em>y<\/em>,\u2006s<\/em>t<\/em>r<\/em>e<\/em>n<\/em>g<\/em>t<\/em>h<\/em>e<\/em>n<\/em>i<\/em>n<\/em>g<\/em>0.12<\/span>.<\/p>\n The decline in most Asian currencies occurred as the US Dollar\nstrengthened. The US Dollar Index (DXY) was observed to rise 0.08% to\n99.503 at the same time.<\/p>\n This rise in the DXY follows a period where the US Dollar had\nweakened; the index previously dropped 0.24% to 99.43 after hitting\n99.73 last Friday, its strongest level since 17 August.<\/p>\n Markets are currently closely monitoring the direction of US central\nbank (The Federal Reserve) interest rates following remarks by Fed Chair\nKevin Warsh at Jackson Hole, which were perceived as hawkish. Warsh\nstated that the US central bank still has work to do if policymakers are\nnot confident that inflation is moving towards the 2% target.<\/p>\n These comments have caused expectations for a Fed rate hike to rise\nagain. Fed funds futures are now pricing in a 64% chance of a rate hike\nin September, up from approximately 35% before Warsh\u2019s comments on\nFriday.<\/p>\n Elwin de Groot, head of macro strategy at Rabobank, assessed that\nWarsh\u2019s statements were indeed aimed at raising rate hike expectations.\n\u201cWarsh\u2019s written statement appears designed to raise interest rate hike\nexpectations, shifting the September debate towards the hawkish camp and\nrebuilding his credibility in fighting inflation,\u201d de Groot said, as\nquoted by Reuters.<\/p>\n Additionally, markets are awaiting US labour market data this week.\nThe August employment report, due this Friday, is expected to show an\naddition of 55,000 jobs. This data will serve as a crucial indicator\nbefore the Fed holds its meeting on 15-16 September.<\/p>\n Marc Chandler, chief market strategist at Bannockburn Global Forex,\nbelieves the labour data will be decisive for the Fed\u2019s room for\nmanoeuvre. \u201cIf we see a direct decline in jobs, I don\u2019t see how the Fed\ncan raise interest rates. I don\u2019t think they ever raise rates after the\neconomy has lost jobs for two consecutive periods,\u201d Chandler said, as\nquoted by Reuters.<\/p>\n Pressure on Asian markets also stems from rising global bond yields.\nExpectations of higher interest rates, fiscal concerns, and rising oil\nprices have led markets to adopt a cautious stance.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asia-in-turmoil-ringgit-won-and-rupiah-all-decline-1788234873",
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