{ "success": true, "data": { "id": 1833589, "msgid": "asian-currencies-routed-as-yen-ringgit-tumble-rupiah-hit-hardest-1782877913", "date": "2026-07-01 10:17:00", "title": "Asian Currencies Routed as Yen, Ringgit Tumble; Rupiah Hit Hardest", "author": "", "source": "CNBC", "tags": "", "topic": "Economy", "summary": "Asian currencies suffered a broad sell-off against a resurgent US dollar on Wednesday, with the Indonesian rupiah plunging to its weakest level in years. The pressure was driven by strong US labour market data and rising Treasury yields, which fuelled expectations that the Federal Reserve will maintain its tight monetary policy stance. The rupiah's slide brought it perilously close to the psychological threshold of Rp 18,000 per US dollar.", "content": "

All Asian currencies weakened against the US Dollar (US$) in trading\non Wednesday (1\/7\/2026). Pressure intensified as the US Dollar Index\n(DXY) regained strength.<\/p>\n

According to Refinitiv data as of 09:45 WIB, out of the 10 monitored\nAsian currencies, all were simultaneously pressured by the US Dollar.\nThe deepest pressure was experienced by the South Korean Won, which\nweakened by 0.65% to KRW 1,557\/US$. The Indonesian Rupiah followed as\nthe second deepest depreciating currency in Asia.<\/p>\n

The \u2018Garuda\u2019 currency weakened by 0.53% to the level of\nRp17,970\/US,\u2006b<\/em>r<\/em>i<\/em>n<\/em>g<\/em>i<\/em>n<\/em>g<\/em>t<\/em>h<\/em>e<\/em>R<\/em>u<\/em>p<\/em>i<\/em>a<\/em>h<\/em>c<\/em>l<\/em>o<\/em>s<\/em>e<\/em>r<\/em>t<\/em>o<\/em>t<\/em>h<\/em>e<\/em>p<\/em>s<\/em>y<\/em>c<\/em>h<\/em>o<\/em>l<\/em>o<\/em>g<\/em>i<\/em>c<\/em>a<\/em>l<\/em>l<\/em>e<\/em>v<\/em>e<\/em>l<\/em>o<\/em>f<\/em>R<\/em>p<\/em>18,\u2006000\/U<\/em>S<\/em><\/span>.<\/p>\n

The Philippine Peso also corrected sharply, dropping 0.42% to PHP\n61.580\/US.T<\/em>h<\/em>e<\/em>T<\/em>h<\/em>a<\/em>i<\/em>B<\/em>a<\/em>h<\/em>t<\/em>w<\/em>e<\/em>a<\/em>k<\/em>e<\/em>n<\/em>e<\/em>d<\/em>b<\/em>y<\/em>0.30<\/span>,\nfollowed by the Vietnamese Dong, which fell 0.24% to VND 26,319\/US$.<\/p>\n

The Malaysian Ringgit also entered the red zone after weakening by\n0.20% to MYR 4.090\/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>f<\/em>e<\/em>l<\/em>l<\/em>b<\/em>y<\/em>0.19<\/span>,\nwhile the Taiwan Dollar weakened by 0.16% to TWD 31.829\/US$.<\/p>\n

Pressure was also visible on the Japanese Yen, which corrected by\n0.14% to JPY 162.76\/US$. Although its decline was not as deep as other\nAsian currencies, the Yen\u2019s position is now at its weakest level in 40\nyears, or since 1986.<\/p>\n

The Chinese Yuan also weakened slightly by 0.11% to CNY\n6.7927\/US$.<\/p>\n

The widespread weakening of Asian currencies this morning occurred\namidst the strengthening of the US Dollar in global markets. This was\nreflected in the movement of the US Dollar Index (DXY), which measures\nthe strength of the greenback against six major world currencies; as of\n09:4s WIB, it was observed to have strengthened by 0.12% to 101.311. The\nDXY moved upward again after having weakened at the start of the\nweek.<\/p>\n

The strengthening of the US Dollar was driven by investors awaiting\nthe release of the latest monthly US employment data. This data will\nserve as a crucial indicator for reading labour market strength and the\ndirection of US central bank (The Federal Reserve\/The Fed) interest rate\npolicy.<\/p>\n

The US Dollar also received support from the rise in US government\nbond yields. The 10-year US Treasury yield rose by approximately 10\nbasis points in the previous session, making dollar-based assets more\nattractive to investors.<\/p>\n

Regarding economic data, US job vacancies in May rose to a two-year\nhigh. Data released on Tuesday showed the number of job openings\nincreased by 9,000 to 7.594 million. This figure was higher than market\nexpectations of 7.296 million and also exceeded the revised April figure\nof 7.585 million.<\/p>\n

The strength of the job vacancy data indicates that US labour demand\nremains quite solid, despite signs that hiring is beginning to slow.\nThis condition has led the market to reconsider the possibility that the\nFed will maintain its hawkish stance for longer.<\/p>\n

Following the interest rate announcement in June, Fed officials\nsignalled that rate hikes could still occur this year. At the June\nmeeting, the Fed maintained its benchmark interest rate at a level of\n3.50% to 3.75%.<\/p>\n

Based on the CME FedWatch Tool, market participants are now pricing\nin a 33.70% probability that the Fed will raise interest rates by 25\nbasis points at the July 28-29 meeting. Meanwhile, the probability of\nrates being held steady stands at 66.30%.<\/p>\n

Beyond interest rate factors, investors are also closely monitoring\nUS-Iran peace talks in Qatar. Hopes for a long-term ceasefire remain,\neven though both parties are not expected to hold direct talks.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/asian-currencies-routed-as-yen-ringgit-tumble-rupiah-hit-hardest-1782877913", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }