Asian FX extend losses on US election bets; stocks struggle

Quick Summary:

ASIAN stocks were mixed on Wednesday, although currencies extended losses, led by the Indonesian rupiah and Malaysian ringgit, as the U.S.dollar continued to strengthen on bets Donald Trump would win the U.S.presidential elections.

"So, for now, central banks in the region will want to wait and see the U.S.election outcomes before deciding to take the next move".

Last week, the Philippine central bank reduced its key interest rate, while Bank Indonesia kept rates unchanged.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndonesiaSouth KoreaPhilippinesSingaporeTaiwanThailand

Topics: Forex Rupiah Donald Trump Currencies Asian /Business/Business News Ringgit US dollar

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 15:32:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 19 lines

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Copyright Owner: © The Star

News ID: 23212948

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