Asian currencies consolidate against the dollar on improved risk sentiment
Updated
Updated · The Wall Street Journal · May 4
Asian currencies consolidate against the dollar on improved risk sentiment
6 articles · Updated · The Wall Street Journal · May 4
The dollar was little changed at 1,471.10 won and 156.97 yen, while the Australian dollar held at $0.7205 as Iran's peace proposal and Donald Trump's Hormuz comments lifted appetite.
Commerzbank said sentiment improved after Trump said the US would guide non-conflict ships through the Strait of Hormuz from Monday, though gains were limited because he also said he was dissatisfied with Tehran's proposal.
Separately, NAB warned Japan's Golden Week holiday could heighten the risk of yen intervention in thin trading, with suspected action late last week and dollar-yen upside seen capped above 160.
Is Japan's massive currency intervention a futile fight against overwhelming pressure from the Middle East crisis?
Can diplomacy reopen the Strait of Hormuz when US military escorts are deemed too risky for a full-scale war?
Beyond oil, how will the Hormuz crisis create a global food shortage by crippling the world's fertilizer supply?