Image courtesy Trading Economics
Asian currencies experienced a dip today, with the Thai baht and Indonesian rupiah bearing the brunt of the losses. This was mainly due to the rising strength of the US dollar, bolstered by robust economic indicators and the threat of inflation from the Federal Reserve, which have pushed US bond yields to a 16-year peak.
The baht saw a fall of up to 0.8%, trading offshore at 36.34 to the dollar, marking its lowest point since November 10, 2022. The rupiah fell by up to 0.6%, its most significant dip in eight months.
Edi Susianto, a senior official, noted that the central bank of Indonesia has been intervening in the foreign exchange market to maintain balance while staying weary of the rise and fall of Asian currencies.
The 10-year Thai government bond yield rose to 3.26%, a record high since May 2022. Meanwhile, the…
