Asia's Currencies Close October Mixed as Rupee Gains About 1% and Yuan Hits 4-Year High
With the Fed and the Bank of Japan both on hold, central bank defenses, export dollars and oil decided which currencies won the month.
Currencies
Currencies
- Currencies
Australian Dollar Holds Near 70 U.S. Cents as Markets Bet on Fifth RBA Hike to 4.85%
September inflation of 4.3% pushed hike odds to 88%, but a softer jobs report and a hike already largely priced in have kept the Aussie from breaking higher.
- Currencies
Thai Baht Climbs 0.6% to 33.40 Per Dollar as S&P Affirms Thailand's BBB+ Rating
A softer dollar, a stable sovereign outlook and higher export forecasts lifted the baht off its weakest levels since July, but the central bank is warning about jobs and spending at home.
- CurrenciesAnalysis
Asia's Currencies Split Into Chip Winners and Oil Losers as the Fed Meets
Export booms have lifted the won and yuan to multi-year highs, while costly oil keeps the rupiah near a record low and the rupee under pressure.
- ExplainerExplainer
How the Yen Carry Trade Works, and Why a 2.5-Point BOJ-Fed Gap Keeps It Alive
The Bank of Japan held at 1.25% and the Fed at 3.75% to 4% last week. That spread pays investors to borrow yen, until the yen jumps.
- Currencies
Japan Spent Zero on Yen Intervention for a Second Month as Currency Hovers Near 158
Tokyo has stayed out of the market since its record summer operation, leaving 27 trillion yen of yen buying this year and reserves of US$1.18 trillion.
- Currencies
Yen Briefly Hits 157.41 on U.S. Election Jolt, Then Slips Back to 158.4 per Dollar
The yen rallied in Tokyo while stocks and Treasury yields fell, then weakened again in London and New York and hit a one-month low against the euro.
- Currencies
Yuan Slides to Two-Week Low as PBOC Lifts FX Reserve Ratio to 6% to Slow Its Rally
China's central bank will lock up about US$24 billion from Nov. 15 and set three weaker daily fixings in a row, cooling a rally of about 5% this year.
- Currencies
Rupee Seen Weakening to 96 by January Even as RBI Curbs Cut Dollar Hedging 35%
The rupee touched a two-week high as the dollar slid after the U.S. midterms, but strategists still expect oil and outflows to drag it lower.
- Currencies
Korean Won Slips to 1,342 as Foreigners Sell $2.5 Billion of Stocks Despite Record Surplus
A record US$61.46 billion September current account surplus failed to lift the currency as chip shares tumbled after the U.S. midterm elections.
- Currencies
Pound Holds Near $1.35 After Bank of England Lifts Rate to 4%, First Hike Since 2023
An 8-1 vote, with one member pushing for a half-point move, gave sterling only a brief lift as traders had already priced the increase.
