Feb 9 (Reuters) - The Thai baht managed to rise along with several Asian currencies on Wednesday, despite expectations that its central bank will leave its policy rate unchanged at time when the U.S. Federal Reserve is expected to begin raising interest rates.
Investors are expected to scour U.S. inflation data out later this week for any clues on the pace of Fed's policy tightening.
Analysts polled by Reuters expected Bank of Thailand policymakers meeting on Wednesday to hold the one-day repurchase rate (THCBIR=ECI) at an historic low of 0.50% to support the economy's recovery from a virus-led disruption. read more
Register now for FREE unlimited access to Reuters.com
Pipat Luengnaruemitchai, an analyst with Kiatnakin Phatra Securities, said in a note that the Thai central bank could find maintaining an accommodative monetary policy too "binding" as inflationary pressures build.
The baht rose for a second successive day, gaining as much as 0.2%, as did the South Korean won and Indonesia's rupiah .
"The USD has lost some ground in general today, allowing Asian currencies to broadly trade firmer," Mitul Kotecha, a senior strategist with TD Securities said.
"While higher US real yields will likely limit any USD weakness, we continue to think Asian currencies will remain relatively resilient compared to other G10 and EM currencies."
The benchmark U.S. Treasury yield on the 10-year note reached 1.97%, its highest since Nov. 7, 2019, as investors await inflation data on Thursday.
Meanwhile, South Korean shares (.KS11) rose about 1%, helped by a tech rally on Wall Street aiding risk appetite. read more
Other Asian equities also climbed.
Malaysia shares (.KLSE) rose 1.1%, leading gains amongst Asian equities, as a Reuters poll showed the country's economy likely bounced back to growth in the final quarter of 2021, propelled by strong exports and private investments. read more
Thailand (.SETI) and Jakarta stocks (.JKSE) were up 0.9% and 0.6% respectively.
India's blue-chip NSE Nifty 50 index (.NSEI) also saw a 0.8% rise as investors in the country look forward to the Reserve Bank of India's monetary policy decision due Thursday. read more
Highlights:
** Indonesian 10-year benchmark yields are up 0.7 basis points at 6.503%
** Top gainers on the Thailand's SETI (.SETI) include TWZ Corporation PCL (TWZ.BK) up 10%, Thai Capital Corporation PCL (TCC.BK) up 8.93%, Lalin Property PCL (LALIN.BK) up 5.56%
** Straits Times index (.STI) up 0.14%
Register now for FREE unlimited access to Reuters.com
Reporting by Savyata Mishra and Indranil Sarkar in Bengaluru; Editing by Simon Cameron-Moore
Our Standards: The Thomson Reuters Trust Principles.
"asian" - Google News
February 09, 2022 at 01:56PM
https://ift.tt/DN1jhs9
Asian FX, stocks firm as investors await U.S. inflation data - Reuters
"asian" - Google News
https://ift.tt/yIqxbru
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment