# Asian currencies tread water as markets await cues on Fed cuts

> Asian currencies were largely flat on August 28 as traders awaited clues on the size of the expected Fed cut. The South Korean won fell about 0.5%, while the ringgit traded flat to 0.2% lower.

- Date: 2024-08-28 · published 2024-08-28T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/29077-asian-currencies-tread-water-as-markets-await-cues-on-fed-cuts
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Currency moves in a holding pattern leave commodity pricing mostly tied to Fed expectations; a larger Fed cut would weaken the dollar and support dollar-priced commodities.

## Read by commodity

- DXY: neutral
- USDKRW: neutral
- USDMYR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-10-06 | [Asian currencies to stay steady, Fed tightening seen curbing gains \| Malay Mail](https://feedsoft.ai/events/6413-asian-currencies-to-stay-steady-fed-tightening-seen-curbing-gains-malay-mail.md) | -0.3% | +1.2% |
| DXY | 2025-05-07 | [Dollar languishes ahead of Federal Reserve meeting, Asian currencies calmer](https://feedsoft.ai/events/9623-dollar-languishes-ahead-of-federal-reserve-meeting-asian-currencies-calmer.md) | +0.8% | -0.8% |
| DXY | 2017-12-01 | [Asia forex: Most Asian currencies ease as U.S. tax vote stalls](https://feedsoft.ai/events/67719-asia-forex-most-asian-currencies-ease-as-u-s-tax-vote-stalls.md) | +0.5% | -0.3% |
| DXY | 2025-03-27 | [South African rand wobbles as markets await Trump's tariffs](https://feedsoft.ai/events/25851-south-african-rand-wobbles-as-markets-await-trump-s-tariffs.md) | +0.1% | -2.5% |
| DXY | 2023-08-28 | [Where the currents of currencies flow \| StashAway Malaysia](https://feedsoft.ai/events/34852-where-the-currents-of-currencies-flow-stashaway-malaysia.md) | +0.2% | +1.3% |

## Sources

- interaksyon.philstar.com: https://interaksyon.philstar.com/business/2024/08/28/282433/asian-currencies-tread-water-as-markets-await-cues-on-fed-cuts/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.