Last: 
But the Japanese yen is expected to fall 0.5% this week, as pressure from the stronger dollar weighs on the greenback. The greenback gained against most Asian currencies this week after the Fed raised interest rates as expected and signaled that borrowing costs would likely jump more than expected, in a bid to combat inflation. A weaker-than-expected U.S. economy also hurt sentiment, even as the U.S. posted a softer inflation figure for November. However, price pressures are still well below the Fed's target range.
The Dollar Index (DXY) and Dollar futures traded down about 0.9% this week as hawkish signals from the European Central Bank and the Bank of England weighed on the Euro and Pound. The prospect of rising interest rates in major economies also raised concerns about a potential recession, denting sentiment toward higher-risk assets. China’s yuan rose 01.%, taking some support from the country’s reopening economy. In the near term, China is facing an unprecedented surge in Covid-19 cases. Analysts say that could delay the reopening and further disrupt economic activity.
Oil Prices Post Weekly Decline as COVID-19 Surge
China's yuan is expected to fall about 0.2% this week, snapping two straight weeks of gains, as a slew of weak economic data highlights the growing rifts in the country's economy caused by the pandemic.Asian Currency Technical Analysis
The Singapore dollar rose 0.3% to close the week lower on data showing the country’s key non-oil exports shrank more than expected in November. Singapore’s trade surplus contracted, signaling more weakness in the island nation’s economy. Thailand’s baht was muted on Friday, becoming the worst-performing Asian currency this week, falling 1.2% after the central bank’s November meeting signaled that interest rate hikes would be gradual and measured. India’s rupee also fell 0.5% this week after inflation figures fell short of expectations in November, suggesting a slower pace of interest rate hikes by the Reserve Bank.Asian Stocks Steady, Dollar Weakens as Traders Weaken
Among the Antipodean currencies, the AUD fell 1.2% this week as major trading partner China weakened, signaling more uncertainty for the country's economy.Asian Stocks Weaken as Fed, BoE Fuel Uncertainty Ahead of US CPI Data
Following Last Week's US CPI, the Euro Rises Higher Today!
Above is daily information about Asian currencies. Keep updating the latest information through the GIC journal which will be announced every day. You can also trade on the GICTrade application with its latest features, ECN accounts, enjoy the advantages of the latest Forex and Commodity Trading features with the lowest spread starting from 0 Rupiah!
