Asian FX weakens as oil, Treasury yields rise; baht hits 2-month low
Most Asian currencies fell as oil prices and elevated US Treasury yields pressured risk sentiment. The Thai baht touched 33.64, its weakest since late July, and the rupiah fell to 17,985 per dollar.
64, a 2-month low Rupiah slides to as much as 17,985 against the dollar KOSPI leads declines in EM Asia equities, down over 2% By Shruti Agarwal Sept 28 (Reuters) — Most Asian currencies weakened on Monday, with Thailand's baht leading losses, as surging oil prices and elevated US Treasury yields stoked concerns over sticky inflation and narrowed the region's rate advantage. 1%. US/ Persistently high energy prices risk stoking inflation across Asia's net energy-importing economies and widening fiscal deficits, while rising US yields threaten to draw capital toward dollar assets. 64 against the dollar, its lowest level since late July.
With US yields rising faster than local bond yields, the deterioration in relative rate support has been particularly pronounced in Thailand and Indonesia, Lloyd Chan, FX strategist at MUFG, said. 6% to 17,985 points per dollar, bringing the currency's year-to-date losses to over 7%. Bank Indonesia's governor said on Monday the central bank has reduced its foreign exchange interventions in the spot market to 30% of the total because it was too costly. 0% fiscal deficit cap.
2%. 5%. 1%, on limited volumes, while Taiwan's equities were not trading on the day due to a holiday. Speaking about the risks to Asian FX from a further rise in bond yields, Glenn Yin, research director at brokerage ACCM, said a rise in the US 10-year Treasury yield to 6% would be a warning sign rather than a breaking point.
7% in catch-up trading following a holiday break. 6%, respectively. Equities in Jakarta fell as much as 1% to their lowest since July 30. Separately, the Indonesia Stock Exchange said on Monday that it has changed the rules for its watchlist board, which flags firms meeting certain risk criteria, to focus more on company fundamentals rather than share prices or the number of freely trading shares.
In West Asia, Turkish authorities lifted asset-freeze orders imposed on 46 companies as part of an investigation into investment funds and market manipulation, broadcaster NTV and other media reported on Monday. com;)