# Asian currencies plunge as U.S. jobs data, Powell comments boost dollar

> Asian currencies fell after strong US services data and Fed chair Powell's comments that moving beyond neutral rates was possible lifted the dollar. The Indian rupee hit a record low near 73.81 per dollar and the Indonesian rupiah weakened to its lowest in over 20 years.

- Date: 2018-10-04 · published 2018-10-04T12:00:00.000Z
- Category: macro · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/62448-asian-currencies-plunge-as-u-s-jobs-data-powell-comments-boost-dollar
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Indonesian Rupiah (IDR per USD)](https://feedsoft.ai/c/USDIDR.md), [Korean Won (KRW per USD)](https://feedsoft.ai/c/USDKRW.md)

## Why it matters

Weaker Asian currencies raise the local-currency cost of imported feed ingredients and can curb buying by importers facing currency stress. This is a meaningful macro driver for feed import costs in the region.

## Read by commodity

- USDIDR: bullish ▲
- USDINR: bullish ▲
- USDKRW: bullish ▲

## Sources

- business-standard.com: https://www.business-standard.com/article/reuters/asian-currencies-plunge-as-u-s-jobs-data-powell-comments-boost-dollar-118100400343_1.html

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