Currencies

Now that US President Donald Trump’s tariff war is in full swing, investors worldwide are wondering what’s next on his agenda for upending the global economic order. Many are turning their attention to the so-called “Mar-a-Lago Accord” – a plan proposed by Stephen Miran, chair of Trump’s Council of Economic Advisers, to coordinate with America’s trading partners to weaken the dollar.At the heart of the plan is the notion that the dollar’s status as the world’s reserve currency is not a privilege but a costly burden that has played a...

Beach holidays in Asia could get more expensive as the dollar weakens against local currencies.Nathalie Jamois/SOPA Images/LightRocket/Getty Images Asian currencies are surging as the US dollar weakens, and it could impact summer travel costs. The dollar's decline is driven by the "Sell America" trend and trade negotiations. A weaker dollar may shift purchasing power to Asia, affecting investments and markets. Dreaming of a cocktail on the beach in Malaysia or exploring the buzzing night markets of Taiwan? You might want to hold that thought: Summer vacations in Asia may get...

The US dollar has been weaker on the back of tariffs and softness internally in terms of expected growth, said Mr Saktiandi Supaat, head of FX research at Maybank. “We observe that there is a diversification away from the USD and the SGD appears to be one of the beneficiaries of this theme,” he said, adding that the Monetary Authority of Singapore’s (MAS) policy stance is also responsible for the steady appreciation of the Singapore dollar. Mr Saktiandi, who is also a Member of Parliament, said Singapore’s stability and strong...

Asian currencies are surging as the US dollar weakens, and it could impact summer travel costs.The dollar's decline is driven by the "Sell America" trend and trade negotiations.A weaker dollar may shift purchasing power to Asia, affecting investments and markets.Dreaming of a cocktail on the beach in Malaysia or exploring the buzzing night markets of Taiwan?You might want to hold that thought: Summer vacations in Asia may get more expensive than you think, as the US dollar continues to come under pressure.The typically stable Taiwan dollar surged by as much...

The Indian rupee depreciated 45 paise to close at 84.80 against the US dollar on Wednesday, driven by heightened tensions between India and Pakistan following India's military strikes on terrorist camps in Pakistan. Mumbai, May 7 (PTI) The rupee depreciated 45 paise to close at 84.80 (provisional) against the US dollar on Wednesday, as heightened cross-border tensions following India's military strikes against terrorist camps in Pakistan and Pakistan-Occupied Kashmir weighed on the domestic currency.Indian armed forces on early Wednesday carried out missile strikes on nine terror targets in Pakistan and...

GBP/USD trades in negative territory below 1.3350 on Wednesday.The technical outlook is yet to point to a buildup of directional momentum.The Fed will announce monetary policy decisions later in the day.After posting gains to start the week, GBP/USD edges lower and trades in negative territory below 1.3350 in the European session on Wednesday as investors gear up for the Federal Reserve's (Fed) monetary policy announcements. British Pound PRICE Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest...

Stay informed with free updatesSimply sign up to the Currencies myFT Digest -- delivered directly to your inbox.After a frankly insane few days, the Taiwanese dollar has fallen back past the 30-per-US dollar mark again. But SLJ Eurozon’s Stephen Jen reckons that its recent rollercoaster is a harbinger of a wider, violent repricing of Asian currencies. Or as the hedge fund manager puts it in his latest note to investors: . . . We continue to believe the risks of investors being blindsided by such a non-linear sell-off in the dollar continue...

Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further with top exporter India’s currency firming, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say. While lower rice prices will benefit price-sensitive consumers in Africa and other regions, they are likely to further squeeze the already meagre earnings of farmers across Asia, which produces nearly 90 per cent of the world’s rice. The market slumped in April, a month after Delhi removed the last of its export curbs on...

Singapore - The US dollar may face a US$2.5 trillion (S$3.2 trillion) “avalanche” of selling as Asian countries unwind their stockpile of the world’s reserve currency, according to currency analyst Stephen Jen. Asian exporters and investors may have amassed an “extremely large” pile of dollars through the years, widening the region’s trade surplus with the United States, Eurizon SLJ Capital’s Mr Jen and Ms Joana Freire wrote in a note on May 7. As a US-led trade war deepens, some Asian investors might repatriate chunks of funds or ramp up...

The Hong Kong dollar’s funding costs plunged the most since 2008, as the monetary authority’s intervention to defend the currency peg helped boost liquidity in the financial system.The one-month Hong Kong Interbank Offered Rate declined 58 basis points to 3.08 per cent on Wednesday (May 7), the most since 2008, according to Bloomberg calculations. Easing interest rates will help reduce the appeal of purchasing the Hong Kong dollar and moderate appreciation pressure. The Hong Kong Monetary Authority (HKMA) stepped into the market to sell HK$129.4 billion (S$167 billion) worth of local...