Forex News

Asia FX slumps, dollar steadies as Poland strike sours sentiment

2022.11.16 00:16

[ad_1]


Asia FX slumps, dollar steadies as Poland strike sours sentiment

Budrigannews.com – Most Asian currencies sank on Wednesday as a potential Russian missile strike on Poland drove investors away from risk-driven assets, while the dollar steadied from recent losses as investors sought safe haven in the greenback. 

The and both steadied around 106.58, recovering from mild losses in the prior session, while also saw increased bids.

Wednesday’s gains saw the dollar brush off data that showed U.S. at a 14-month low. The reading gave further credence to bets that inflation has likely peaked in the country, which is expected to elicit a less hawkish stance by the Federal Reserve.

Several Fed members also called for smaller rate hikes, while bets that the in December grew sharply this week. 

While this scenario is positive for Asian currencies in the near-term, sentiment was battered on Wednesday as a missile of Russian make killed two people in eastern Poland.

The move, if linked to Russia, would mark the first time since Russia’s invasion of Ukraine that Moscow has attacked a member of the North Atlantic Treaty Organization, and could spark a potential escalation in the conflict. 

Risk assets saw steep losses on Wednesday in anticipation of more details on the strike. 

and the were among the worst performing Asian currencies on Wednesday, dropping 1.1% and 0.7% to the dollar, respectively, while the shed 0.6%. 

More signs of economic duress in China also further soured sentiment towards Asian markets, with data showing Chinese sank to a seven-year low in October.

This followed dismal readings on and earlier this week, which indicated that COVID-induced rifts in Asia’s largest economy were deepening. 

The country is also struggling with its worst COVID outbreak in six months, which has brewed more uncertainty over its economic prospects.

Overnight gains in oil prices dragged the down 0.6%, while the led losses across Southeast Asia with a 0.5% decline.

Losses in the were somewhat tempered by data showing local wages grew more than expected in the quarter to September. 

The reading gives the Reserve Bank more headroom to keep raising interest .

[ad_2]

Source link

Asia FX slumps, dollar steadies as Poland strike sours sentiment

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 103,499.73 0.49%
ethereum
Ethereum (ETH) $ 2,365.92 6.14%
tether
Tether (USDT) $ 1.00 0.04%
xrp
XRP (XRP) $ 2.38 3.34%
bnb
BNB (BNB) $ 661.65 5.28%
solana
Solana (SOL) $ 171.91 5.50%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.219464 12.04%
cardano
Cardano (ADA) $ 0.789 3.07%
tron
TRON (TRX) $ 0.263348 3.36%
staked-ether
Lido Staked Ether (STETH) $ 2,364.26 6.18%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 103,362.69 0.59%
sui
Sui (SUI) $ 3.97 0.96%
chainlink
Chainlink (LINK) $ 16.22 3.25%
avalanche-2
Avalanche (AVAX) $ 23.92 7.05%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,828.09 5.74%
stellar
Stellar (XLM) $ 0.302531 3.66%
shiba-inu
Shiba Inu (SHIB) $ 0.000016 8.29%
hedera-hashgraph
Hedera (HBAR) $ 0.206212 5.75%
the-open-network
Toncoin (TON) $ 3.35 3.35%
hyperliquid
Hyperliquid (HYPE) $ 24.86 2.47%
bitcoin-cash
Bitcoin Cash (BCH) $ 417.16 0.16%
leo-token
LEO Token (LEO) $ 8.74 1.43%
usds
USDS (USDS) $ 1.00 0.01%
litecoin
Litecoin (LTC) $ 103.64 8.71%
polkadot
Polkadot (DOT) $ 5.10 13.10%
weth
WETH (WETH) $ 2,362.53 6.17%
monero
Monero (XMR) $ 315.67 6.19%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,522.27 6.42%
bitget-token
Bitget Token (BGB) $ 4.73 5.74%
pepe
Pepe (PEPE) $ 0.000013 14.94%
pi-network
Pi Network (PI) $ 0.740024 4.66%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.02%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 103,412.71 0.63%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.09%
whitebit
WhiteBIT Coin (WBT) $ 30.39 0.13%
bittensor
Bittensor (TAO) $ 448.55 3.90%
uniswap
Uniswap (UNI) $ 6.51 4.19%
near
NEAR Protocol (NEAR) $ 2.98 6.75%
aptos
Aptos (APT) $ 5.71 1.95%
dai
Dai (DAI) $ 1.00 0.04%
okb
OKB (OKB) $ 55.01 3.89%
ondo-finance
Ondo (ONDO) $ 1.03 3.78%
aave
Aave (AAVE) $ 213.84 3.72%
susds
sUSDS (SUSDS) $ 1.05 0.04%
internet-computer
Internet Computer (ICP) $ 5.59 6.66%
ethereum-classic
Ethereum Classic (ETC) $ 19.41 4.71%
crypto-com-chain
Cronos (CRO) $ 0.102056 3.09%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
official-trump
Official Trump (TRUMP) $ 14.39 4.52%