The Thai baht fell sharply on Monday as the US dollar strengthened due to concerns over President Trump's tariff policies. Investors are awaiting the Federal Reserve's policy decision and are also watching for growth data from the Philippines and Thailand.
The Thai baht weakened the most among Asian currencies on Monday, dropping as much as 0.4%, as the dollar strengthened amid renewed concerns over U.S. President Donald Trump's trade policies. Investors were also awaiting the Federal Reserve 's policy decision. The broader MSCI gauge of emerging market currencies dipped by as much as 0.5%, marking its weakest session in over five weeks.
\The dollar gained strength after Trump threatened Colombia with retaliatory tariffs and sanctions as part of his immigration efforts. However, the White House later retracted the threat after Colombia agreed to accept military aircraft carrying deported migrants. While fears of tariffs, particularly on Chinese goods, eased slightly last week, boosting most Asian currencies, DBS analysts cautioned against interpreting this week without imposed tariffs as a positive sign. They stated, 'Given that Trump has talked about his belief in the potency of tariffs, actual and threatened, for four decades, we are sceptical that this four-year term would somehow begin and end with minimal application of his favourite tool.' \The Chinese yuan also weakened, falling by 0.3%. An official factory survey revealed that China's manufacturing activity unexpectedly contracted in January, reaching its lowest point since August. Regional stock markets were generally weaker, with Kuala Lumpur declining around 0.4% and Manila dropping 0.5%, reaching their lowest levels in over seven months. Global investors will be closely monitoring the Federal Reserve's actions this week, anticipating its policy response to Trump's calls for interest rate cuts. Asian investors will also be watching for growth data from the Philippines and Thailand's manufacturing data, scheduled for later in the week. Trading across the region is anticipated to be relatively subdued due to several holidays, primarily for the Lunar New Year
TRADE WARS CURRENCIES US DOLLAR FEDERAL RESERVE ASIAN MARKETS
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