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The baht fell past 37 per dollar on September 16, its weakest level since December 2006, as several Asian currencies hit multi-year lows. The yuan also slipped past 7 per dollar, while bets on a large Fed rate hike lifted Treasury yields.
Analysts said the People's Bank of China would manage the pace of moves rather than defend specific levels.
Weaker Asian currencies raise dollar-denominated feed import costs across the region and can reduce regional purchasing power for feed ingredients. The move reflects dollar strength that is broadly pressuring emerging-market currencies.
bangkokpost.comReutersSep 16, 2022Not enough comparable past events yet for a historical read.
After 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.
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.
