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NEW ATH ?
Kemungkinan besar diakhir january atau awal febuary NEW ATH untuk BTC !!
#TrumpCountDown #BTC☀
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Asian Currency Index Plunges to Lowest Level Due to Trump Policy Projections
The Asian currency index experienced a sharp decline to its lowest level in the last two decades driven by the strengthening of the US dollar. This strengthening occurred along with optimism about US economic growth and President-elect Donald Trump's plan to raise trade tariffs.
The Bloomberg Asia Dollar Index was recorded at 89.0409, Monday (06/01). This is the lowest level since this data began to be calculated in 2006.
"There will be an increase in the dollar exchange rate against Asian currencies in general, although the level of impact will vary," said Alvin T. Tan, Head of FX Strategy at Royal Bank of Canada in Singapore.
It seems that central banks in Asia are expected to respond to this situation by allowing their currency exchange rates to weaken in a controlled manner.
Meanwhile, the South Korean won currency even fell to its lowest level in 15 years, followed by the Indian rupee which also experienced the same thing.
On the other hand, the weakening of the Asian currency index, including the rupiah and other currencies, has a significant impact on the cryptocurrency industry. Because usually, when the local currency weakens, crypto assets become more attractive to domestic investors.
This is because the price of crypto on exchanges in local currencies becomes cheaper, encouraging more people to invest.
The Asian currency index experienced a sharp decline to its lowest level in the last two decades driven by the strengthening of the US dollar. This strengthening occurred along with optimism about US economic growth and President-elect Donald Trump's plan to raise trade tariffs.
The Bloomberg Asia Dollar Index was recorded at 89.0409, Monday (06/01). This is the lowest level since this data began to be calculated in 2006.
"There will be an increase in the dollar exchange rate against Asian currencies in general, although the level of impact will vary," said Alvin T. Tan, Head of FX Strategy at Royal Bank of Canada in Singapore.
It seems that central banks in Asia are expected to respond to this situation by allowing their currency exchange rates to weaken in a controlled manner.
Meanwhile, the South Korean won currency even fell to its lowest level in 15 years, followed by the Indian rupee which also experienced the same thing.
On the other hand, the weakening of the Asian currency index, including the rupiah and other currencies, has a significant impact on the cryptocurrency industry. Because usually, when the local currency weakens, crypto assets become more attractive to domestic investors.
This is because the price of crypto on exchanges in local currencies becomes cheaper, encouraging more people to invest.
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