As risk appetite heats up, most Asian currencies strengthened against the US dollar in early trading. Analysts from Commerzbank Research Division reported that the Federal Reserve cut interest rates as scheduled and cut interest rates for the third consecutive meeting, but the market believes that the degree of hawkiness in this interest rate cut is lower than expected. The analysts added that Federal Reserve Chairman Powell called the move “a further normalization of our policy position”, expressed optimism that the US economy would strengthen, and anticipated that the impact of tariffs on inflation would be temporary. The dollar fell 0.3% against the yen to 155.60 yen; the dollar fell 0.3% against the won to 1,465.03 won; the dollar fell 0.1% against the Singapore dollar to 1.2918 Singapore dollars.

As risk appetite heats up, most Asian currencies strengthened against the US dollar in early trading. Analysts from Commerzbank Research Division reported that the Federal Reserve cut interest rates as scheduled and cut interest rates for the third consecutive meeting, but the market believes that the degree of hawkiness in this interest rate cut is lower than expected. The analysts added that Federal Reserve Chairman Powell called the move “a further normalization of our policy position”, expressed optimism that the US economy would strengthen, and anticipated that the impact of tariffs on inflation would be temporary. The dollar fell 0.3% against the yen to 155.60 yen; the dollar fell 0.3% against the won to 1,465.03 won; the dollar fell 0.1% against the Singapore dollar to 1.2918 Singapore dollars.