Singapore markets close in 4 hours 26 minutes
  • Business
    Bloomberg

    Why the US dollar is causing chaos across Asia

    Emerging-market currencies have tumbled this year as the dollar has gone from strength to strength. Taiwan’s currency dropped to the lowest level in almost eight years this week, India’s rupee slumped to a record, and Malaysia’s ringgit is close to the weakest since the Asian financial crisis in 1998. All except one of the 23 main developing-nation currencies tracked by Bloomberg have fallen against the greenback this year.

  • Business
    Reuters

    Asia stocks mixed as soaring dollar pauses

    Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% but regional moves were uneven, with gains in South Korea and Australia but falls elsewhere. Japan's Nikkei fell 0.4% and with a drop of 4.3% so far this week is eyeing its largest weekly loss since December 2022.

  • Business
    Reuters

    Dollar takes a breather as investors ponder US rates outlook

    The dollar was soft on Thursday as traders assessed the U.S. interest rates outlook in the wake of comments from Federal Reserve officials that cemented expectation of monetary settings remaining restrictive for a while longer. The dollar has been rising in recent weeks as a slew of strong U.S. economic data and persistent inflation dashed expectation of rate cuts in the near term. Dollar strength has cast a shadow across currency markets, keeping the yen rooted near 34-year lows and leading to several warnings from Japanese authorities as traders fret about possible intervention.