• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Soaring US Dollar Raises Alarm as China, Japan Escalate FX Pushback
Finance

Soaring US Dollar Raises Alarm as China, Japan Escalate FX Pushback

September 6, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Soaring US Dollar Raises Alarm as China, Japan Escalate FX Pushback
Share
Facebook Twitter LinkedIn Pinterest Email

(Bloomberg) — The renewed advance in the US dollar is sending Asian currencies to multi-month lows while prompting authorities in Japan and China to step up defense of their beleaguered exchange rates.

Most Read from Bloomberg

Japan issued its strongest warning in weeks against rapid declines in the yen on Wednesday, with its top currency official saying the nation is ready to take action amid speculative moves in the market. Shortly after, China’s central bank offered the most forceful guidance on record with its daily reference rate for the yuan, as the managed currency weakened toward a level unseen since 2007.

Resilient US economic data is persuading some traders that the Federal Reserve will keep interest rates higher for longer, sending the dollar jumping and a gauge of Asian currencies toward the lowest since November. That means policymakers in the region, who spent last year burning through their reserves to support local currencies, are heading back to the battlefield to take on bearish speculators.

“The prospect of higher-for-longer US rates is reigniting pressure, and investors will be cautious,” said Vijay Kannan, a macro strategist at Societe Generale SA in Singapore. “Specifically, EM Asia is more vulnerable to this dollar strength, given a much lower interest-rate differential and a greater exposure to a weaker China growth outlook.”

Elevated oil prices have also reignited fears over higher inflation, a move that’s undermining expectations Asian central banks were done hiking interest rates and hurting the appeal of local-currency bonds. Bonds in Indonesia and Thailand are both seeing foreign outflows this month.

See also  I Can't Say What I'd Do if China Invades Taiwan, But China Knows What I'd Do -- I'll Keep Tariffs Regardless

China’s dire economic outlook, which was built on data that have been disappointing for months, is also weighing on sentiment on emerging-market currencies.

The yen and yuan are among the worst performers among Asian currencies this year. While Japan has stopped short of using more aggressive tools to support its currency, China already sought to bolster the yuan by asking state-owned banks to sell dollars while tightening liquidity offshore to squeeze short currency bets.

Similar currency defense measures exist elsewhere in Asia. Taiwan’s foreign exchange reserves declined in August for the first time in nearly a year, as the monetary authority intervened in the market. And in Thailand, the central bank has warned that rapid moves in the baht will prompt intervention.

Still, skepticism remains whether these measures are game changers in the absence of a less hawkish Fed or a pickup in China’s economy. Morgan Stanley turned bearish on emerging market currencies this week, saying those in Asia will be exposed to a China growth slowdown.

“The immediate implication of the soaring US dollar is that it will prevent most Asian central banks from loosening monetary policy, out of fear of aggravating currency weakness,” said Alvin T. Tan, head of emerging-market currency strategy at RBC Capital Markets in Singapore.

–With assistance from Ruth Carson and Neha D’silva.

(Updates with analyst comment)

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.

Alarm China Dollar Escalate Japan Pushback raises Soaring
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

May 27, 2025

EXCLUSIVE: Conservative Orgs Sound Alarm On Liz Warren-Backed ‘Trojan Horse’ Effort To Wield Greater Control

May 13, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Trump’s Tariffs Trigger Turmoil In China As Country’s Economic Tailspin Intensifies Per New Data

May 6, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Credit Suisse inquiry will keep files secret for 50 years

July 16, 2023

Nikki Haley: “It Changes Nothing For Us to Have Ukraine be Able to Become a Part of NATO” (VIDEO) | The Gateway Pundit | by Cristina Laila

July 12, 2023

Fugitive Suspect In 1984 Florida Killing Arrested 39 Years Later In California

June 9, 2023

Deadspin Blackface Hoaxer Who Smeared Child Is Award-Winning ‘Journalist’

December 6, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Fears mount European commercial real estate could be the next to blow

April 17, 2023

21 Ways To Not Be A Dry Texter 

December 15, 2023

Russia Accuses Ukraine of Using Cluster Bombs in Donetsk

August 8, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.