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Most Asian currencies hit multi-year lows against the dollar on September 26 after the US Federal Reserve's hawkish stance boosted the greenback's safe-haven appeal. The ringgit fell 0.4% to 4.5960 per dollar, its weakest since January 1998, while the Indian rupee and Philippine peso set record lows.
The dollar index reached 114.58, its highest since May 2002.
Broad Asian currency weakness lowers the dollar value of Asian feed purchases and tightens financing for importers in the region. The strong dollar is expected to keep pressure on emerging-market import costs.
malaysiakini.comReutersSep 26, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
