Asia Pushback Grows as Fed Fears Ripple Across the Region
- Authorities in Japan, South Korea voice concern about losses
- Market intervention tends to have temporary impact: Robeco
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Policy makers in Asia pushed back against a surging dollar, seeking to stem losses as their currencies teetered on the brink of key levels that may trigger more selling.
The Bank of Japan is said to have called banks asking for an indicative price at which it could intervene, spurring traders to drive the currency higher. South Korea also ramped up the rhetoric, while China’s central bank set the daily reference rate on the yuan at the strongest bias on record.