Why Are ASEAN and Asian Currencies Rising Against The US Dollar?
The US dollar is volatile, with market fluctuations putting pressure on its valuation and positioning. At the same time, the development is paving the way for other currencies, notably the ASEAN and several Asian currencies, to surge, sparking record-high rallies in their wake. But why are these currencies surging against the US dollar? Also Read: Gold Recovers Post FED Rate Announcement: Heads To Hit $2,700 Asian and ASEAN Currencies Spark Massive Rallies: What’s Happening Image: Watcher Guru Asian currencies are rallying way ahead of the curve against the US dollar. The recent surge has been triggered by the recent policy easing and the Federal Reserve’s decision to cut interest rates by 50 basis points. The announcement has hammered the US dollar to some extent, allowing ASEAN and Asian currencies to surge and hit record highs. Key Performers: Indonesia Rupiah And South Korean Won Indonesia Rupiah and South Korean Won emerged as the biggest deal breakers in the middle of this, secur...