##{"id":51626,"date":"2006-05-19T15:19:24","date_gmt":"2006-05-19T05:19:24","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2006\/05\/19\/asian-currency-consolidation-on-the-cards\/"},"modified":"2006-05-19T15:19:24","modified_gmt":"2006-05-19T05:19:24","slug":"asian-currency-consolidation-on-the-cards","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2006\/05\/19\/asian-currency-consolidation-on-the-cards\/","title":{"rendered":"Asian Currency Consolidation On The Cards"},"content":{"rendered":"<p class=\"MsoNormal\"><span>By Robert Rudnicki<\/span><\/p>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>Asian currencies have taken a significant hit over the past week, and in the opinion of DBS analysts Philip Wee, a consolidation rather than a rapid bounce back is on the cards. <\/span><\/p>\n<p \/>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>Worst hit was the Indonesian rupiah, which fell 4.5%, but the Korean, Taiwanese, Philippine, Malaysian and Thai currencies all also headed southwards. <\/span><\/p>\n<p \/>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>The break in the recent sell off in US dollars came about as a result of renewed inflationary fears in the US, which make a Fed interest rate rise in June more likely. <\/span><\/p>\n<p \/>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>The market was also affected by the sharp commodities sell off and concerns in Latin America, Wee says. <\/span><\/p>\n<p \/>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>With the European summer and the World Cup rapidly approaching, Wee predicts liquidity is likely to be thin and therefore doesn&#8217;t discount the possibility of a near term consolidation. <\/span><\/p>\n<p \/>\n<p class=\"MsoNormal\"><span><\/span><\/p>\n<p class=\"MsoNormal\"><span>However, further down the line Wee believes the US dollar will continue to weaken, in line with the view of most other experts.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflationary pressures in the US see Asian currencies fall, with a near term consolidation increasingly likely.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[58],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/51626"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=51626"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/51626\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=51626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=51626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=51626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}