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Stock impact report

Bullish bets steady on Asian currencies as Fed easing bets soften dollar, Reuters poll shows [Yahoo! Finance]

Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG) 
US:NYSE Investor Relations: smfg.co.jp/english/investor
Company Research Source: Yahoo! Finance
dialling back some bets, a Reuters poll showed on Thursday, as a defensive U.S. dollar driven by a dovish Federal Reserve enhanced the appeal of risk-sensitive assets. Long bets were the highest on the Malaysian ringgit and the Thai baht, with those on the latter at their peak since January 2023, driven by strong growth fundamentals and stabilising politics. Responses to the fortnightly poll of 10 economists and analysts were received before the U.S. Federal Reserve's half-point rate cut and Bank Indonesia's surprise quarter-point rate cut on Wednesday. Anticipation of Fed rate cuts pushed the dollar to the defensive, providing a much-needed breathing space for emerging markets and improving their allure. Most Asian currencies logged a stellar recovery in August against the dollar. "We do not rule out further bouts of USD weakness in the weeks ahead and expect overall downward pressure on USD/Asia FX to be sustained," analysts at Barclays said. The dollar index is trending n Show less Read more
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