Asian currencies see falling data amid global conflict

<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-iStock-483409816-1-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-iStock-483409816-1-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-iStock-483409816-1-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-iStock-483409816-1-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-iStock-483409816-1-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-iStock-483409816-1-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-iStock-483409816-1-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-iStock-483409816-1.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p>Data on the Chinese yuan notes that lifting Covid-19 restrictions earlier this year has not boosted business transactions as much previously predicted, with the yuan falling 0.1% this week. Its third-quarter gross domestic product data is due later this week, which may shed some light on China’s subdued economic growth and inflexible lending rates.</p>
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<div><img aria-describedby="caption-attachment-450804" decoding="async" class="wp-image-450804" src="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-700×731.png" alt="" width="98" height="102" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-700×731.png 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-250×261.png 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-768×802.png 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-120×125.png 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-245×256.png 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829-479×500.png 479w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-Asian-currencies-see-falling-data-amid-global-conflict-5333867829.png 958w" sizes="(max-width: 98px) 100vw, 98px" /><p>James Malcolm Source: LinkedIn</p></div>
<p>James Malcolm, head of FX strategy at UBS London, observed the slowing signs of the yen and the Bank of Japan’s necessary intervention, all as a result of the Palestine conflict and <a href="https://www.leaprate.com/forex/market-news/daily-market-commentary-the-uncertainty-brought-by-the-latest-batch-of-eu-sanctions-on-russia-is-impacting-market-sentiment-this-week/" target="_blank" rel="noopener">Russia-Ukraine war</a>:</p>
<blockquote><p>Obviously, war is inflationary; [it] disrupts growth and threatens risk assets. […] The largest overhang I can see in this regard is dollar-yen, where the BOJ must pivot regardless, and the carry trade that has built up now amounts to nearly half a trillion dollars.</p></blockquote>
<p>Despite the weakening of its peers, the Indian rupee remained relatively stable on Monday against the US dollar, with the Reserve Bank of India (RBI) stabilising local oil prices throughout the nation. According to experts, it seems that the RBI may have intervened on Friday to prevent the rupee from slipping as low as its Asian counterparts; however, all Asian currencies now await economic data from the US Federal Reserve regarding interest rate hikes and global inflation levels.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/asian-currencies-see-falling-data-amid-global-conflict/">Asian currencies see falling data amid global conflict</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>