Several Asian currencies weakened against the US dollar on\nWednesday\u2019s trading session (29\/4\/2026). Pressure continues to stem from\nmarket participants\u2019 stance as they await the US central bank\u2019s interest\nrate announcement, the Federal Reserve.<\/p>\n
The Fed will announce its interest rate policy today, Wednesday US\ntime, or early Thursday Indonesian time.<\/p>\n
According to Refinitiv at 09:35 WIB, out of 11 monitored Asian\ncurrencies, eight weakened, one strengthened, and two remained\nstagnant.<\/p>\n
The rupiah is among the currencies facing the deepest pressure after\nweakening 0.58% to Rp17,310\/USD. The deepest weakening was recorded by\nthe Philippine peso, which corrected 0.68% to PHP 61.47\/USD.<\/p>\n
Pressure is also evident in the Thai baht, which is at THB 32.60\/USD\nafter weakening 0.37%. The Korean won followed at KRW 1,477.63\/USD, down\n0.29%, while the Taiwan dollar is at TWD 31.56\/USD after correcting\n0.17%.<\/p>\n
The Chinese yuan and Malaysian ringgit moved more limitedly. The yuan\nis at CNY 6.83\/USD with a slight weakening of 0.03%, while the Malaysian\nringgit is at MYR 3.95\/USD, down 0.03%.<\/p>\n
The Singapore dollar also tended to weaken slightly by 0.01% to SGD\n1.2766\/USD.<\/p>\n
On the other hand, the Vietnamese dong was the only Asian currency to\nstrengthen. It is at VND 26,325\/USD after a slight rise of 0.02%.<\/p>\n
Meanwhile, the Japanese yen and Indian rupee moved stagnantly, at JPY\n159.61\/USD and INR 94.54\/USD, respectively.<\/p>\n
Asian currency movements today are still heavily influenced by the\ndirection of the US dollar in the global market. The US dollar index\n(DXY) at 09:35 WIB was observed to weaken slightly by 0.03% to\n98.614.<\/p>\n
Market participants tend to hold back ahead of the Fed\u2019s interest\nrate decision, which is expected to be the last meeting for Jerome\nPowell as Fed Chair before his term ends in May.<\/p>\n
The Fed is expected to hold interest rates steady. Therefore,\ninvestor attention is not only on the interest rate decision but also on\nthe Fed\u2019s statement regarding US economic conditions and the impact of\nthe Middle East conflict on inflation and economic growth.<\/p>\n
This week, markets are also awaiting decisions from several other\nmajor central banks, including those from the European Union, the UK,\nand Canada.<\/p>\n
Meanwhile, the Bank of Japan on Tuesday held interest rates at 0.75%\nbut gave somewhat hawkish signals, opening room for future policy\ntightening.<\/p>\n
On the other hand, uncertainty over the Middle East war remains a key\nfactor for markets. Stalled negotiations between the US and Iran,\ncoupled with the continued closure of the Strait of Hormuz, have\nreignited inflation concerns as that route is one of the world\u2019s most\nvital energy pathways.<\/p>\n
This situation also supports demand for the US dollar as a safe-haven\nasset. US President Donald Trump is reportedly dissatisfied with\nTehran\u2019s latest proposal, deeming that issues related to the nuclear\nprogramme must be addressed from the outset in any agreement.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/won-ringgit-chinese-yuan-faces-severe-pressure-ahead-of-crucial-fed-night-1777434750", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }