A pedestrian walks past a currency exchange store in Mumbai, India, on June 28, 2018. Photo: Bloomberg
(Bloomberg) — Investors are re-writing playbooks on how to trade Asia’s hallmark currencies as the dollar’s rampage pummels peers to fresh lows.
With the greenback supercharged by expectations of higher-for-longer U.S. interest rates, traders are struggling to pick the bottom for Asian currencies.
In the last 24 hours, the yen fell to within a whisker of 145 per dollar while China’s yuan is teetering on the edge of the key 7 level. The risk-sensitive Korean won is hurtling towards the closely-watched 1,400 mark, with jawboning from officials on Wednesday having little impact.
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https://www.caixinglobal.com/2022-09-08/cornered-forex-traders-brace-for-dollar-to-smash-more-asia-records-101937471.html
2022-09-08 21:24:36Z
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