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Stock impact report

Asian Currencies Set for Best Week in Two Months on Intervention [Yahoo! Finance Canada]

MALAYAN BKNG BERHAD S/ADR (MLYBY) 
(Bloomberg) -- Asian currencies are poised for their best week in nearly two months as regional policymakers increased their intervention efforts and rhetoric. Most Read from Bloomberg The Bloomberg Asia Dollar index has gained by 0.3% this week so far, the biggest advance since early March, supported by intervention from central banks, with the Bank of Japan at the forefront, as well as less hawkish signals from the Federal Reserve. ADVERTISEMENT “Market participants are buying back EM Asia FX before nonfarm payrolls,” data in the US, while regional currencies are also helped by the unwinding flow of long USD/JPY, according to Ken Cheung, chief Asian FX strategist at Mizuho Bank. As Jerome Powell indicated the Fed is likely to continue its wait-and-see mode even with another strong US jobs report, “risks of the USD are skewed to the downside,” Cheung added. The move comes after Asian currencies declined every month against the resurgent dollar this year, as a resilient A Show less Read more
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