Halister News

(Bloomberg) -- Asian currencies falling amid dollar strength after media reports over weekend that Trump proposes to allocate $1t for fiscal stimulus which may cause rising inflation expectations, Gao Qi, Asia FX strategist at Scotiabank says

• Notes Indonesia central bank intervening in IDR markets last week and comments from MAS, BOK and BNM suggest they are preparing to intervene
  • Any intervention by Asian central banks is probably aimed at reducing currency volatility rather than reversing weakening direction
• MYR, SGD, KRW reaching oversold territory and any technical correction this week likely to be good opportunity to buy dollar
• Won falls 0.5% to 1,169.60 per dollar, after dropping by as much 0.8%
• Ringgit drops 0.8% to 4.3300 per dollar, after sliding as much as 1.1%, according to onshore prices