Chinese Yuan Soaring

Forex News

The greenback weakened after FOMC protocol release and thus Asian currencies have strengthened. The protocol showed that members are worried that such a soft inflation won’t pick any time soon. December’s rate hike remains in store, but it’s doubtful that there would be 3 rate hikes next year.

Another reason for Asian currencies’ boost was Gross Domestic Product data from Philippines, Malaysia and Thailand, that surprised market with excellent figures. Malaysian economic growth hit the 3-year maximum.