On Monday, most of the fiat currencies from the Asian region traded low. The trading values of the Asian currencies have dipped at a high rate.

The Asian currencies dipped as mixed data was shared by the Chinese economists pertaining to trades.

Asian Currencies Fell on Monday

The Asian markets are showing a downward trend for most of the currencies in Asia. Due to the rise in the trading data, the demand in the country has risen.

This has ended up lowering the trading prices of the major Asia currencies.

The USD is Trading Stronger

Then there is the US market which is doing quite well compared to the Asian markets. The trading price of the USD versus the Chinese and other major currencies has grown stronger.

The Feds announced that they will continue hiking the interest rates to fight off inflation. According to the Feds, they will continue hiking rates even in the month of September.

Value of Chinese Yuan Experienced a Dip

The trading value of the Chinese yuan ended up trading at 6.7620. It happened because the trading data that came out was lower than the expected rise in the imports for the Chinese market.

It was confirmed that the trade balance for China had surged substantially. However, the most concerning situation was the drop rate of imports.

The data has shown that the imports recorded in the month of July were lower than the expectations set by the Feds.

Yuan Comparison with Currencies with High Trade Exposure to China

Indonesia and the Philippines have high exposure to China in terms of trade. However, as the trade data was shared, the currencies of both currencies were also negatively impacted.

The forex market data recorded for Indonesia shows that the value of the rupiah has dipped by 0.3%. Then comes the Philippine Peso which has reportedly dropped by 0.1% against the Chinese yuan.

Chinese Data Comes Out Following Rollback of Lockdowns

The trading data from China has come just after the government of the country has announced the rollback of lockdowns. The country had implemented lockdowns due to the rise in COVID-related cases in the country.

Due to the Chinese lockdowns, the economy of China has taken a huge hit and it is struggling to recover from the downtrends.

Due to the downfall of the Chinese economy, the economy of the entire Asian region has taken a negative hit.

The rise in Chinese Inflation

Due to the lockdowns in the country, inflation has been on the rise in China, which is not just an Asian concern but the concern in the entire world.

The data shows that the value of the Australian dollar has risen 0.3% against the yuan. The value of the Japanese yen, however, has dipped 0.3% against the yuan.