- August 25, 2022
- Posted by: Stratford Team
- Category: Economy
BENGALURU (Aug 25): Thailand’s baht and South Korea’s won were the top gainers among Asian emerging currencies on Thursday as the US dollar retreated ahead of the US Federal Reserve’s Jackson Hole conference.
Stock markets in the region, however, were mixed, with equities in Bangkok advancing 0.6% and hitting their highest since June.
Kuala Lumpur’s main stock index gained 1.7%, while Singapore’s benchmark index led declines in the region by losing 2.1%.
The spotlight is squarely on Fed Chair Jerome Powell’s speech at the annual monetary policy conference in Jackson Hole, Wyoming, due to begin on Friday. Comments from the conference are expected to signal the pace of future interest rate.
“If Powell’s commentary forces markets to further price in more supersized Fed rate hikes, that might trigger more declines for equities, while in turn allowing king dollar to continue exerting its dominance across the FX universe,” said Han Tan, chief market analyst…
