Asian Currencies Stay Stable Amid US Dollar’s Weakness
The currencies of the countries of the Association of Southeast Asian Nations (ASEAN) remain stable against the background of the weakening of the US dollar. The Malaysian ringgit increased by more than 0.4%. The dollar index, which measures the dollar against a basket of six major currencies, fell from a weekly high of 94.165.
Fed Chair Janet Yellen said yesterday that the central bank is close enough to its goals and should gradually raise interest rates in the US. Yellen said that raising rates is the key to solving any potential future negative economic shock. The gradual tightening of monetary policy is the key for the central bank of the United States.