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'Worst likely over' for emerging Asian currencies as US Fed hike bets ease

Currencies across the region jumped Thursday, following their developing-nation peers in the Americas and Europe, after the US data published Wednesday led to a slump in the dollar

Indian rupee
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Photo: Bloomberg

Karl Lester M. Yap and Jaehyun Eom | Bloomberg
The worst may be over for emerging Asian currencies as slower-than-expected US inflation eases pressure on the Federal Reserve to aggressively raise interest rates, according to DBS Group Holdings Ltd. and Malayan Banking Bhd.

Currencies across the region jumped Thursday, following their developing-nation peers in the Americas and Europe, after the US data published Wednesday led to a slump in the dollar. The Thai baht led gains, rising 0.9 per cent, while the Indonesian rupiah strengthened 0.7 per cent.

“The US inflation data affirmed our assumption for the dollar to return gains against Asian currencies starting this quarter into the

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