Most Asian currencies strengthened against the United States dollar\non Friday morning, led by the Japanese yen, as the dollar index weakened\nin global markets.<\/p>\n
Based on Refinitiv data as of 09:15 Western Indonesia Time, nine out\nof ten Asian currencies gained ground against the dollar. The Indonesian\nrupiah appreciated by 0.11% to Rp18,050 per US dollar, though it\nremained above the psychological level of Rp18,000. The Malaysian\nringgit followed with a 0.32% gain to MYR 4.061 per US dollar.<\/p>\n
The Japanese yen recorded the sharpest rise, climbing 0.55% to JPY\n161.46 per US dollar. The Thai baht strengthened by 0.24% to THB 33.26,\nwhile the Taiwan dollar rose 0.22% to TWD 32.077. The Chinese yuan\nappreciated 0.19% to CNY 6.779 per US dollar. The Singapore dollar and\nPhilippine peso both edged up 0.16%, reaching SGD 1.289 and PHP 61.520\nrespectively. The South Korean won was the sole laggard, slipping 0.04%\nto KRW 1,505.78.<\/p>\n
The US dollar index weakened by 0.18% to 100.725, providing a boost\nto Asian currencies. The greenback\u2019s decline came as markets reassessed\nthe renewed tensions between the US and Iran, oil price movements, and\nthe direction of Federal Reserve interest rate policy.<\/p>\n
Expectations for a Fed rate hike have slightly diminished. According\nto the CME FedWatch Tool, the probability of a rate increase at the\n28-29 July meeting fell to 26.2%, down from 31% in the previous session.\nFor the September meeting, the likelihood of a hike stood at 61.7%,\nlower than the 66.6% recorded on Wednesday but still above the 54.1%\nseen a week earlier.<\/p>\n
Minutes from the Fed\u2019s 16-17 June meeting, the first chaired by Kevin\nWarsh, revealed that policymakers\u2019 concerns about inflation had\nintensified, with some participants seeing grounds for an immediate rate\nincrease. However, New York Fed President John Williams stated on\nThursday that despite renewed conflict in the Middle East, he did not\nexpect energy price increases to be sustained for the remainder of the\nyear.<\/p>\n
Meanwhile, US weekly jobless claims fell by 2,000 to 215,000, below\neconomists\u2019 estimates of 218,000, indicating a relatively stable labour\nmarket.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/yen-leads-asia-in-pushing-back-dollar-rupiah-and-ringgit-strengthen-won-falls-1783655492", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }