# Fed’s ‘higher for longer’ stance hits Asian currencies – Business Insider

> A basket of Asian currencies weakened after Federal Reserve governor Michelle Bowman said it was not time to ease and she was open to hikes if inflation stays firm. The Bloomberg Asia Dollar Index fell to its lowest since November 2022, and the ringgit slipped from RM4.7105 on June 20 to RM4.719.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: macro · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/30068-fed-s-higher-for-longer-stance-hits-asian-currencies-business-insider
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Hawkish Fed signals and a stronger dollar raise the cost of dollar-priced feed and oilseed imports across Asia, pressuring regional buyers.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- bizinsider.org: https://www.bizinsider.org/feds-higher-for-longer-stance-hits-asian-currencies/

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