The Asian currencies strengthened against the US dollar in the afternoon trading session on August 19, according to the Jinshi data. Chris Turner, global head of markets at ING Group, and director of research for the UK and Central and Eastern Europe, said that the weakness of the US dollar seems to be part of an orderly adjustment cycle as the Federal Reserve prepares to cut interest rates. Turner added that the communication between the Federal Reserve and the market will be the headline news of this week. Today, it is necessary to follow the comments of the Federal Reserve Chairman Powell, and the minutes of the July FOMC meeting will be released on Wednesday. On Friday, Federal Reserve Chairman Powell will deliver a speech.
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Prospect of Fed rate cut boosts Asian currencies
The Asian currencies strengthened against the US dollar in the afternoon trading session on August 19, according to the Jinshi data. Chris Turner, global head of markets at ING Group, and director of research for the UK and Central and Eastern Europe, said that the weakness of the US dollar seems to be part of an orderly adjustment cycle as the Federal Reserve prepares to cut interest rates. Turner added that the communication between the Federal Reserve and the market will be the headline news of this week. Today, it is necessary to follow the comments of the Federal Reserve Chairman Powell, and the minutes of the July FOMC meeting will be released on Wednesday. On Friday, Federal Reserve Chairman Powell will deliver a speech.