# Asia FX falls as Powell remarks buoy dollar; won, baht take beating - Markets - Business Recorder

> Emerging Asian currencies weakened on August 29 after Fed Chair Powell signaled that rates would stay high for some time to bring inflation down. The dollar index rose to a 20-year high, and the Thai baht and South Korean won fell sharply. The baht also slid after weak Thai July export data.

- Date: 2022-08-29 · published 2022-08-29T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/40310-asia-fx-falls-as-powell-remarks-buoy-dollar-won-baht-take-beating-markets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Thai Baht (THB per USD)](https://feedsoft.ai/c/USDTHB.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

A firmer dollar raises the local-currency cost of dollar-priced grain and oilseed imports across Asia, and it can weigh on US export prices in dollar terms.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-27 | [Thai baht, Malaysian ringgit lead Asian FX lower on extended dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/34366-thai-baht-malaysian-ringgit-lead-asian-fx-lower-on-extended-dollar-strength.md) | +1.1% | +1.1% |
| DXY | 2023-09-26 | [Thai baht leads Asian currencies lower, pressured by dollar - Markets - Business Recorder](https://feedsoft.ai/events/34379-thai-baht-leads-asian-currencies-lower-pressured-by-dollar-markets-business.md) | +0.8% | +1.3% |
| DXY | 2021-06-29 | [Baht, rupiah under pressure as virus woes support dollar - Markets - Business Recorder](https://feedsoft.ai/events/46855-baht-rupiah-under-pressure-as-virus-woes-support-dollar-markets-business.md) | +0.8% | +1.1% |
| DXY | 2021-07-13 | [Pound extends fall after US inflation data lifts dollar - Markets - Business Recorder](https://feedsoft.ai/events/46308-pound-extends-fall-after-us-inflation-data-lifts-dollar-markets-business.md) | +0.7% | +0.6% |
| DXY | 2024-11-21 | [Dollar pulls ahead as markets focus on Trump policies, Fed outlook - Markets - Business Recorder](https://feedsoft.ai/events/27609-dollar-pulls-ahead-as-markets-focus-on-trump-policies-fed-outlook-markets.md) | -0.0% | +1.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40194434

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