{"id":550,"date":"2023-05-25T12:09:07","date_gmt":"2023-05-25T09:09:07","guid":{"rendered":"https:\/\/invest24world.com\/?p=550"},"modified":"2023-05-25T12:10:09","modified_gmt":"2023-05-25T09:10:09","slug":"asia-fx-weakens-amid-debt-ceiling-woes-dollar-at-two-month-high","status":"publish","type":"post","link":"https:\/\/22-preview.freshtone.ru\/sv\/asia-fx-weakens-amid-debt-ceiling-woes-dollar-at-two-month-high\/","title":{"rendered":"Asia FX weakens amid debt ceiling woes, dollar at two-month high"},"content":{"rendered":"\r\n<p>Most Asian currencies slid on Thursday, while the dollar hit a two-month high as uncertainty over raising the U.S. debt limit and averting a default saw investors avoid risk-driven assets.<\/p>\r\n\r\n\r\n\r\n<p>Worsening sentiment towards China also weighed on regional currencies, amid reports that the country faces a resurgence in COVID-19 cases, which could peak by late-June.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-cny\">Chinese yuan<\/a>\u00a0fell 0.2% to a near six-month low, pushing further below the 7 level after a breach last week. Fears of a renewed COVID outbreak added to concerns over slowing economic growth in the country, after a string of weak readings for April.<\/p>\r\n\r\n\r\n\r\n<p>Potentially worsening ties between Beijing and Washington also pressured the yuan.<\/p>\r\n\r\n\r\n\r\n<p>Concerns over China spilled over into broader Asian markets, with the <a href=\"https:\/\/www.investing.com\/currencies\/usd-sgd\">Singapore dollar<\/a>\u00a0down 0.2% as data confirmed that the island state\u2019s\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/gdp-511\">economy shrank<\/a>\u00a0in the first quarter, largely in part due to slowing Chinese demand.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/aud-usd\">Australian dollar<\/a>\u00a0shed 0.2%, also coming under pressure from its high trade exposure to China, while the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-krw\">South Korean won<\/a>\u00a0dropped 0.5%. The won was also pressured by the\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/interest-rate-decision-473\">Bank of Korea<\/a>\u00a0holding interest rates steady for a third straight month, with some traders positioning for a possible rate cut later this year.<\/p>\r\n\r\n\r\n\r\n<p>Broader Asian currencies retreated as fears of a U.S. debt default persisted, with Democrat and Republican lawmakers flagging little progress toward raising the debt limit.<\/p>\r\n\r\n\r\n\r\n<p>The latest blow to sentiment came from ratings agency\u00a0<a href=\"https:\/\/www.investing.com\/news\/economy\/fitch-puts-us-on-negative-rating-watch-amid-debt-deal-deadlock-3090326\">Fitch flagging a potential U.S. downgrade<\/a>\u00a0in the event of a default.<\/p>\r\n\r\n\r\n\r\n<p>The\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-jpy\">Japanese yen<\/a>\u00a0sank 0.2% to a six-month low against the dollar, while the\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/usd-inr\">Indian rupee<\/a>\u00a0fell 0.1% and traded close to a two-month low.<\/p>\r\n\r\n\r\n\r\n<p>The dollar benefited from increased safe haven demand, while traders also dumped treasuries in favor of the greenback. The\u00a0<a href=\"https:\/\/www.investing.com\/indices\/usdollar\">dollar index<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.investing.com\/currencies\/us-dollar-index\">dollar index futures<\/a>\u00a0rose 0.2% each in Asian trade, and were hovering at two-month highs.<\/p>\r\n\r\n\r\n\r\n<p>Mixed signals on monetary policy also supported the greenback, as the\u00a0<a href=\"https:\/\/www.investing.com\/economic-calendar\/fomc-meeting-minutes-108\">minutes<\/a>\u00a0of the Federal Reserve\u2019s May meeting showed that interest rates were likely to remain higher for longer.<\/p>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/www.investing.com\/central-banks\/fed-rate-monitor\">Fed Fund futures prices<\/a>\u00a0show markets were pricing in an over 60% chance the Fed will hold rates in June. But a growing number of participants are also pricing in the possibility of another rate hike.<\/p>\r\n\r\n\r\n\r\n<p>Weak risk appetite and high U.S. interest rates pointed to more pressure on Asian currencies in the coming months, continuing a trend seen through 2022.<\/p>\r\n\r\n\r\n\r\n<p>Source: https:\/\/www.investing.com\/news\/forex-news\/asia-fx-weakens-amid-debt-ceiling-woes-dollar-at-twomonth-high-3090381<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Most Asian currencies slid on Thursday, while the dollar hit a two-month high as uncertainty over raising the U.S. debt limit and averting a default saw investors avoid risk-driven assets. Worsening sentiment towards China also weighed on regional currencies, amid reports that the country faces a resurgence in COVID-19 cases, which could peak by late-June. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpautop"],"translation":{"provider":"WPGlobus","version":"2.10.10","language":"sv","enabled_languages":["en","nl","es","sv","fr"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Asia FX weakens amid debt ceiling woes, dollar at two-month high - 24 World<\/title>\r\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<meta property=\"og:locale\" content=\"sv_SE\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Asia FX weakens amid debt ceiling woes, dollar at two-month high - 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