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Asian emerging market currencies were subdued on April 29 after US inflation data reduced prospects of near-term Fed rate cuts. The Indonesian rupiah fell 0.3% and the Korean won slipped 0.1%, while regional equities rose.
Market pricing pointed to the first Fed cut in September, with the Fed meeting that week expected to hold rates.
Higher-for-longer US rates keep the dollar firm and raise the cost of dollar-denominated feed imports across Asia. The impact is an FX-driven cost signal rather than a direct change in commodity supply.
brecorder.comReutersApr 29, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
