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The baht and Philippine peso rebounded after Fed Chair Powell said the central bank would not raise rates too quickly. Thai stocks rose as investors awaited a Bank of Thailand meeting, and the South Korean won and Malaysian ringgit also gained.
The move reflects Fed-driven dollar weakness in Asian FX, which does not directly change feed commodity supply or demand.
financialpost.comReutersJun 23, 2021Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
