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Emerging Asian currencies and stocks surge anticipating Fed decision

Emerging Asian currencies and stocks experienced gains as traders awaited the US Federal Reserve’s policy decision. The South Korean won and the Thai baht led the way among currencies. The Bank of Japan raised its short-term interest rate and detailed a quantitative tightening plan. This initially pushed the yen to its highest level in a week, but the currency later pared all gains. Other Asian currencies such as the Singapore dollar, Philippine peso, and Malaysian ringgit traded flat. Read more to find out more about the Asian currencies updates here.

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Disclaimer:

Given the current market dynamics, the outlook for emerging Asian currencies and equities appears optimistic. Traders should remain cautious. The Fed rate decision and upcoming inflation data will play a key role in shaping market sentiment and movement in the near term.

Publication date:

2024-08-04 14:10:56 (GMT)

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