Authorities tamp down volatility with tools other than forex interventions
The currencies of Asian countries that rely on resource imports have depreciated sharply since the start of the Iran war. (Photo by Akira Kodaka)
MAO KATO and HAYATE KOIKE
TOKYO — Asian countries that rely heavily on imported energy are keeping tabs on speculative trades to support their currencies without overusing interventions that drain foreign exchange reserves.
Cautious trade has given way to a drift lower Level Comment Level Comment R4 1.3700**76.4% ret of Jan-Mar fall S1 1.3500**congestionR3 1.3660*congestion S2 1.3450 break levelR2 1.3600**congestion; 61.8% ret S3 1.3400**congestionR1 1.3550*congestion S4 1.3350*congestionAsterisk denotes strength of level08:10 BST -...
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