# Most Asian Currencies Hit 1-Month Lows As Dollar Firms After U.S. CPI Data

> Most Asian currencies fell to one-month lows after US consumer price index data showed annual inflation at 6.4%, above estimates. The ringgit fell 0.8% to its weakest since January 9, and the Thai baht and Indian rupee also weakened. Markets fully priced in a 25 basis point Fed hike in March.

- Date: 2023-02-15 · published 2023-02-15T12:00:00.000Z
- Category: macro · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/37602-most-asian-currencies-hit-1-month-lows-as-dollar-firms-after-u-s-cpi-data
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Persistent US inflation and expected Fed hikes lift the dollar and pressure Asian currencies. Weaker regional currencies can lower the local-currency cost of Asian palm oil and other feed exports, which can weigh on prices.

## Read by commodity

- DXY: bullish ▲
- USDINR: bullish ▲
- USDMYR: bullish ▲
- USDTHB: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-03-02 | [Dollar firms after U.S. labor data suggests more rate hikes \| Reuters](https://feedsoft.ai/events/37076-dollar-firms-after-u-s-labor-data-suggests-more-rate-hikes-reuters.md) | +0.7% | -0.8% |
| DXY | 2023-06-29 | [Asian currencies edge lower as US dollar jumps on hawkish Fed](https://feedsoft.ai/events/35726-asian-currencies-edge-lower-as-us-dollar-jumps-on-hawkish-fed.md) | +0.4% | -1.2% |
| DXY | 2024-03-27 | [Asian currencies at multi-month lows against US dollar; stocks mixed - Markets - Business Recorder](https://feedsoft.ai/events/31453-asian-currencies-at-multi-month-lows-against-us-dollar-stocks-mixed-markets.md) | +0.2% | +1.4% |
| 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% |
| 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% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2023/02/15/most-asian-currencies-hit-1-month-lows-as-dollar-firms-after-u-s-cpi-data/

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