Asian Coins Mixed With Trump’s Statements
Currencies followed a mixed course as US President Donald Trump stated that the trade agreement with the Chinese Government is ongoing.
There was a sharp fluctuation in the markets after consultant Peter Navarro reported that the deal was over prior to the statement made by President Trump. Navarro changed this discourse later on.
The Dollar Spot Index lost 0.3 percent, while the MSCI Asia Pacific Index gained 0.7 percent.
There was a limited rise in the Chinese yuan today, the South Korean won climbed to the top of a week and became the most appreciated currency today. The Indian rupee and the Exchange gained value with optimism about the reopening of economies.
Indonesian rupee fell to its lowest level in 3 weeks as the rise from stock markets continued.
While the Thai Baht was rising ahead of the Central Bank’s interest rate decision, the Malaysian Ringgit also climbed to the top of a week.
Philippine pesos lost value with exits from stocks. The Taiwan dollar has remained close to the highest levels since 2018.