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Asian currencies
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- 1Asian Currencies Hold Steady as Rising Oil Prices Loom●Asian Currencies Consolidate, But May Be Weighed by Rising Oil Prices https://www.wsj.com/finance/currencies/asian-curre
Asian currencies are consolidating in quiet trading, but market watchers warn the gains could be capped by rising oil prices. Higher oil typically pressures Asian currencies because many regional economies are net energy importers, raising import bills and widening trade deficits. Traders are weighing the currency stability against the risk that continued energy cost increases could renew downward pressure on regional exchange rates.
- 2Indian Rupee falls to two-month low on fading US-Iran diplomacy hopes▼Indian Rupee declines to two-month low as US-Iran diplomacy hopes recede
The Indian Rupee has slipped to a two-month low against the US dollar as prospects for a diplomatic resolution between Washington and Tehran recede. Traders say the breakdown in hoped-for talks has revived geopolitical risk, strengthening the dollar and pushing regional Asian currencies, including the rupee, lower amid renewed concerns over oil prices and capital outflows.