Asian FX Slightly Weak on Inflation, Global Growth Concerns

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Asian currencies are under pressure

Monday due to inflation and continued global concern

Economic growth, although the trend of the Singapore dollar has increased

The city-state published data core is showing the fastest growth

Inflation in a decade.

Baht of Thailand, Rupee of India and R.

The Philippine peso has weakened 0.1% each, while the Singapore peso

Strong as 0.4% before the dollar, a hit

A two-and-a-half week high against a widely weakened US dollar.

The dollar traded heavily against major currencies,

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After the first weekly loss in about two months, e.g.

Investors are betting on more dollar gains from the growing US


“The US is talking about the risk of a recession and therefore less pressure

US Federal Reserve to aggressively tighten (see)

Rate the rate hike and the USD wants to be free, “said Christopher Wang.

Senior FX strategist at Maybank.

Wong added that the relative stability of the yuan

The US Treasury yield is a pullback, China’s

Friday cut mortgage rates unexpectedly for mortgages

And the signs of Shanghai’s reopening have helped ease sentiment in Asia.

Yuan, which has recorded the biggest weekly jump since then

October 2020 Last week, up 0.1%. He had to reduce the rate of China

This is the second decline this year as Beijing seeks a revival

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Sick housing sector to boost the economy.

Stocks in this region fought for direction. In equities

Both Bangkok and Taipei rose 0.5%, while

Who have done business in Singapore and the Philippines


Singapore’s main inflation rate – the central bank

Preferred price measure – up 3.3% in April of the year

On the basis, the highest since February 2012, driven by higher diet

A Reuters poll of price economists gave a 3.4% forecast


Meanwhile, both the Indonesian rupiah and the stock

Jakarta Bank was slightly weaker than Indonesia

Policy meeting on Tuesday.

Economists have predicted Indonesia in a Reuters poll

The central bank will have to wait a few more months to raise interest rates

Record low despite rising inflation and aggressive austerity by

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US Federal Reserve.

About one-third of respondents, eight out of 27, said first

The rate increase will be June, and the remaining 17 it will be

Come to a monthly meeting between July and September.


** The Singapore dollar is at its highest level since May 5

** On Friday, Taiwan’s export orders fell for the first time

25 months in April

** In the first 20 days of May, South Korean exports increased

24.1% per annum

Asia Stock Index and Currency at 0503 GMT

Country FX RIC FX FX Index Stock

Daily YTD% S YTD%

% Daily


Japan +0.32 -9.70 0.64 -6.53

China +0.10 -4.94 -0.47 -13.96

India -0.13 -4.27 0.32 -5.97

Indonesia -0.11 -2.84 -1.10 3.95

Malaysia -0.05 -5.13 0.15 -1.03

Philippines -0.11 -2.42 -0.48 -5.73

S.Korea -0.14 -6.39 -0.04 -11.40

Singapore +0.28 -1.97 -0.49 3.24

Taiwan -0.05 -6.67 0.45 -10.99

Thailand -0.15 -2.68 0.50 -1.60

(Reporting by Harish Sridharan in Bangalore; Edited by Sonali




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