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Emerging-market currencies including the Thai baht and Malaysian ringgit slid to three-month lows against the dollar. The moves followed stronger-than-expected U.S. economic data that reduced expectations of early Federal Reserve rate cuts.
Emerging-market central banks are reluctant to cut rates to defend their currencies.
A stronger dollar and weaker Asian currencies raise the cost of imported feed ingredients priced in dollars for buyers in those markets, while weaker local currencies can make Asian exports more competitive.
asia.nikkei.comTAKAHISA TAMURA, Nikkei staff writerFeb 15, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Not 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.
