Barclays PLCBARC
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Impact on stocks 2
Financials
Barclays PLCDigital Finance & Tokenization
Citigroup Inc.C
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Barclays PLCCitigroup Inc.The yen strengthened following coordinated intervention by the United States and Japan, triggering gains in several Asian currencies. Analysts at Citigroup and Barclays say the Thai baht, South Korean won, and Singapore dollar will benefit the most, given their high correlation with yen movements. In the three days through Monday, the yen rose more than 4 percent against the US dollar, while the won, baht, and Philippine peso each gained at least 0.7 percent. The Bloomberg Asia Dollar Index advanced 0.5 percent. Barclays strategists note that the latest intervention may represent coordinated cooperation between the US and Japan, meaning the impact on Asian currencies could be stronger than historical models predict. Additionally, the US dollar's weakening after the Federal Reserve chair struck a more dovish tone than markets expected is another factor supporting near-term strength in yen-sensitive Asian currencies.
Barclays PLCCitigroup Inc.