Top currency officials in Asia, including those from Japan, Malaysia, and China, are expressing concerns over the "excessive" depreciation of their respective currencies against the strong US dollar. The Japanese yen has slumped over 9% against the dollar this year, while the Malaysian ringgit fell about 6% and the Chinese yuan slid nearly 5%. The Bank of Japan's monetary policy divergence from the US Federal Reserve's tightening stance is driving the dollar's strength. Japan's finance ministry may intervene in the forex market if the yen continues to weaken, while Malaysia's central bank will intervene to curb excessive currency movements.
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