# Asian currencies edge lower as US dollar jumps on hawkish Fed

> Most Asian currencies fell on June 29 as the US dollar firmed after Fed Chair Jerome Powell said two more rate hikes were possible this year. The Korean won fell 0.6%, its weakest since June 1, while the Thai baht sits near a seven-month low amid political uncertainty.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: macro · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/35726-asian-currencies-edge-lower-as-us-dollar-jumps-on-hawkish-fed
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md)

## Why it matters

A stronger dollar on hawkish Fed expectations weakens Asian currencies, which raises the local-currency cost of importing feed ingredients and can pressure demand for US feed commodities priced in dollars.

## Read by commodity

- DXY: bullish ▲
- USDKRW: bullish ▲
- USDTHB: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-10-17 | [edges lower as dollar gains after hawkish Fed minutes](https://feedsoft.ai/events/62444-edges-lower-as-dollar-gains-after-hawkish-fed-minutes.md) | +1.1% | +2.3% |
| DXY | 2026-09-17 | [Emerging Asian currencies trim losses after hawkish Fed propels dollar; shares muted \| KLSE Screener](https://feedsoft.ai/events/17726-emerging-asian-currencies-trim-losses-after-hawkish-fed-propels-dollar-shares.md) | +1.0% | +2.2% |
| DXY | 2023-11-16 | [The Impact of the Strong U.S. Dollar on Asian Currencies](https://feedsoft.ai/events/12030-the-impact-of-the-strong-u-s-dollar-on-asian-currencies.md) | -0.3% | -1.2% |
| DXY | 2023-02-15 | [Most Asian Currencies Hit 1-Month Lows As Dollar Firms After U.S. CPI Data](https://feedsoft.ai/events/37602-most-asian-currencies-hit-1-month-lows-as-dollar-firms-after-u-s-cpi-data.md) | +0.8% | +1.8% |
| DXY | 2020-01-30 | [US Dollar On A Two-Month High, Asian Currencies Consistently Declining](https://feedsoft.ai/events/55323-us-dollar-on-a-two-month-high-asian-currencies-consistently-declining.md) | +0.3% | +1.4% |

## Sources

- nst.com.my: https://www.nst.com.my/business/2023/06/925482/asian-currencies-edge-lower-us-dollar-jumps-hawkish-fed

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