# Asia currencies limp into 2024 on Red Sea, China, Fed woes | Insights - Finance Funds Update

> Asian currencies began 2024 under pressure as traders scaled back bets on a March Fed rate cut, with the won falling about 2% in a week. Geopolitical risks in the Red Sea and weak China data added to dollar demand.

- Date: 2024-01-29 · published 2024-01-29T12:00:00.000Z
- Category: macro · region Asia · magnitude low
- Page: https://feedsoft.ai/events/32355-asia-currencies-limp-into-2024-on-red-sea-china-fed-woes-insights-finance-funds
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Broad dollar strength raises the local cost of dollar-priced grain and feed imports across Asia, which can support regional feed buyers' costs.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-04-12 | [Latam currencies set for worst week in 6 months as dollar soars - Finance Funds Update](https://feedsoft.ai/events/31048-latam-currencies-set-for-worst-week-in-6-months-as-dollar-soars-finance-funds.md) | +1.1% | +0.5% |
| DXY | 2024-04-18 | [Dollar strength weighs on Latam FX; copper prices lift currencies of Peru, Chile - Finance Funds Update](https://feedsoft.ai/events/31046-dollar-strength-weighs-on-latam-fx-copper-prices-lift-currencies-of-peru-chile.md) | -0.1% | -1.4% |
| DXY | 2022-10-03 | [Dollar up on euro as quarter ends, commodity led currencies sink - Business & Finance - Business Recorder](https://feedsoft.ai/events/9336-dollar-up-on-euro-as-quarter-ends-commodity-led-currencies-sink-business-and.md) | -0.2% | +0.1% |
| DXY | 2024-10-28 | [Asian currencies: Indonesian rupiah, ringgit fall - Business & Finance - Business Recorder](https://feedsoft.ai/events/28133-asian-currencies-indonesian-rupiah-ringgit-fall-business-and-finance-business.md) | +0.2% | +1.9% |
| DXY | 2025-09-17 | [Dollar Boost From Fed to Weigh on Asian Currencies, Analysts Say - Bloomberg](https://feedsoft.ai/events/23086-dollar-boost-from-fed-to-weigh-on-asian-currencies-analysts-say-bloomberg.md) | +0.4% | +1.5% |

## Sources

- financefundsupdate.com: https://financefundsupdate.com/currencies/asia-currencies-limp-into-2024-on-red-sea-china-fed-woes-insights/

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