Asia FX Muted as Hawkish Fedspeak Curbs Dollar Losses By Investing.com


© Reuters.

By Ambar Warrick 

Investing.com– Most Asian currencies moved little on Wednesday as hawkish comments from Federal Reserve officials helped stem recent losses in the dollar, while the Japanese yen hovered around 32-year lows as traders looked past threats of government intervention. 

The fell as far as 149.29, its weakest level against the dollar since 1990, as a widening gap between local and U.S. interest rates weighed. 

Short sellers of the currency largely ignored warnings from Japanese authorities that they would intervene a second time in currency markets to support the currency. Japanese intervention in September had only briefly stalled the yen’s losses, which was then trading around 145 to the dollar.  

Other Asian currencies moved little. The slipped 0.2%, while the hovered near record lows, at 82.3 to the dollar. 

The bucked the trend, rising 0.4% as traders bet the government would intervene in currency markets to fish the currency from 14-year lows. 

The was largely flat on Wednesday, but appeared to have curbed recent losses after hawkish comments from two Federal Reserve officials. said the central bank could push its benchmark rate to higher than 4.75% by mid-2023 if inflation remains stubbornly high. His comments came just a few days after data showed U.S. inflation saw little signs of slowing in September, sticking to near 40-year highs.  

Atlanta Fed President Raphael Bostic also stated that the central bank’s key focus should lie in controlling runaway inflation. 

Their comments helped curb a two-day losing streak in the dollar index. The index traded sideways around 112 on Wednesday, as did . also edged higher, sticking close to 14-year highs. 

Rising U.S. interest rates were the biggest weight on Asian currencies this year, as the gap between risky and low-risk debt narrowed. The trend is expected to persist in the coming months, given that the Federal Reserve has made no indication that it plans to ease up on interest rate hikes. 

Markets are pricing in a the central bank will raise rates by 75 basis points in November, its fourth such hike this year. 

 



Source link

Related articles

Ethereum Worth Pulls Again Arduous, Bitcoin Crash Fuels Bearish Wave

Ethereum value began a contemporary decline from the $4,950 zone. ETH is now buying and selling under $4,550 and reveals bearish indicators much like Bitcoin. Ethereum began a contemporary decline after it traded to...

10 High Retirement Earnings Shares Now

Printed on August twenty fifth, 2025 by Bob Ciura Dividend investing is in the end about changing your working earnings with a passive earnings stream for a financially free retirement (or early retirement). The fact...

Sprouts Farmers: $1B Buyback Highlights Insider Confidence in Valuation

Share buybacks are one of the vital direct methods an organization’s administration can categorical its optimism for the underlying enterprise and its future potential. They're additionally probably the most tax-efficient manner of doing...

SkyWater Know-how: Extra Than A Foundry, A Grounded Guess On The Quantum Revolution

This text was written byComply withI'm the founder and lead analyst at Golden Bear Capital (GB Capital), the place I concentrate on figuring out uneven risk-reward alternatives by a novel mix of quantitative...

Bitmine Boasts World’s Largest Ethereum Treasury as Holdings Surpass 1.71 Million ETH

Bitmine Immersion Applied sciences now holds the world’s largest Ethereum treasury, with its crypto and money reserves exceeding $8.8 billion. Bitmine’s Aggressive ETH Accumulation Continues The corporate’s holdings comprise 1,713,899 ethereum (ETH), 192...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com