Thursday, July 17, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Technology

‘Goldilocks’ scenario boosts Asian currencies to five-month high

by Riah Marton
in Technology
‘Goldilocks’ scenario boosts Asian currencies to five-month high
Share on FacebookShare on Twitter


ASIAN currencies rallied to the highest since March as ebbing US recession concern, bets on Federal Reserve rate cuts next month and an improving domestic backdrop lifted sentiment in the region.

The Bloomberg Asia Dollar Index gained as much as 0.5 per cent on Monday (Aug 19) to the highest level since March. The Malaysian ringgit led the regional advance on upbeat growth prospects and the Thai baht rose on easing political tensions.

“It feels like a Goldilocks scenario, where US recession fears fade while growth momentum in the region remains moderate,” said Christopher Wong, a foreign-exchange strategist at OCBC. “There is room for Asia ex-Japan currencies to recover against a backdrop of developed-market central banks largely on an easing bias.”

The ringgit rose as much as 1.3 per cent to 4.3750 per US dollar, the strongest since February 2023. On Friday, the nation reported a stronger-than-expected increase in second-quarter gross domestic product from the previous year, while global funds poured the most cash into its stock market since June.

The baht extended gains to 34.42 per US dollar, the highest since January after Paetongtarn Shinawatra on Friday won enough votes in parliament to become the next Thai prime minister. That helped to quell initial concerns of a protracted political vacuum after the previous premier was removed by the Constitutional Court due to ethical violations.

The South Korean won also rallied 1 per cent to 1,338.20, the highest since March, followed by the Taiwan dollar with 0.7 per cent gain.

Goldman Sachs Group economists on the weekend lowered the probability of a US recession in the next year to 20 per cent from 25 per cent, citing last week’s better-than-expected US retail sales and jobless claims data. They also said they were “more confident” the Fed will cut interest rates by 25 basis points at their September policy meeting.

Traders will be watching for clues on Fed easing when chairman Jerome Powell speaks at Jackson Hole symposium later this week. BLOOMBERG

Tags: AsianBoostscurrenciesfivemonthGoldilocksHighScenario
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
Donald Trump Makes Bizarre Attack on Kamala Harris’ Looks as He Claims to be ‘Better Looking’ Than the Vice-President

Donald Trump Makes Bizarre Attack on Kamala Harris' Looks as He Claims to be 'Better Looking' Than the Vice-President

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2024 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In