[TOPIC] How would soaring US dollar impact your daily life?
The US dollar surged to a fresh two-decade high against major peers after the Federal Reserve raised interest rates and forecast more hikes ahead than investors had expected. The United States dollar index hit a 20-year high of 111.65 and the greenback's strength sent the currencies in many countries down to fresh multi-year lows.
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SGD
The Singapore dollar is now sitting at US$0.70. It's down around 5% in total against the greenback this year.
Actually, Singapore’s dollar has established itself as Asia’s most resilient currency. Goldman Sachs Group Inc., Citigroup Inc. and MUFG Bank Ltd. are among banks that are bullish on the Singapore dollar, underpinned by an expectation that the Monetary Authority of Singapore(MAS) will extend policy tightening at its October meeting to help rein in core inflation that hit a 14-year high in July.
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AUD & NZD
The Australian and New Zealand dollars are pinned at their lowest since mid-2020, with the Aussie down 0.3 per cent on Thursday to US$0.66 and the kiwi down 0.4 per cent to US$0.58. The AUD/USD and NZD/USD are down 9% and 15% respectively year to date.
Here's what Greg Boland (@Optionskiwi), Chief Executive at Tiger Brokers (NZ) says:
“The stubborn inflation rate globally and in New Zealand, that’s going to be around for longer, so I think there could be further weakness in the Kiwi.”
Here's the full story: Further pressure points on Kiwi dollar in months ahead
Other Currencies
The euro sank to a 20-year low of US$0.9810 after Russia ordered the mobilisation of reserve troops in an escalation of the war in Ukraine. The pound hit US$1.1233, its lowest in 37 years. South Korea's won slid past the symbolic 1,400 per dollar mark for the first time since 2009. The Thai baht, Malaysian ringgit and Swedish crown all made major new lows...
Take a look at what some are strategists are saying about the US dollar here → Super Hawkish Fed: Strategists Say USD Is The Only Choice
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对于那些在澳大利亚有家人和孩子的人来说，美元飙升时是转移资金或往那边汇款的好时机。
由于美元兑澳元走高，MYR兑澳元走强。FTT服务的网上银行转账即使在正常银行时间后但在一天的下午6点前也可以进行。外汇汇率（马币/澳元）更好，尤其是在下午5点-6点（马来西亚时间）交易时段结束时。
对于M2U，在线FTT服务只在周一至周五上午10:00至下午6:00，不包括公共假日和联邦地区州假日。
Usd up up up