Most Asian Currencies Edge Higher on Skepticism over U.S. Bond Buyback Plan
Dow Jones
Aug 21
0058 GMT - Most Asian currencies strengthen slightly against the dollar on skepticism over the U.S. Treasury Department's bond buyback plan. The plan "failed to anchor long-term [U.S.] yields for now, raising doubts whether Treasury buybacks can sustainably lower borrowing costs against persistent fiscal and structural pressures," strategists at OCBC Group Research say in a report. "So far, the surprise buyback programme has coincided with a weaker USD, higher gold prices and rising breakeven inflation rates," the strategists add. The U.S. dollar falls 0.5% to 1,387.30 won and edges 0.1% lower to 1.2712 Singapore dollars, LSEG data show.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.