Experts now expect the US central bank (Federal Reserve, the Fed) to keep interest rates at record lows until next year instead of changing them this year.
This news led to an emerging market rally with Asian currencies strengthening against the US dollar while Asian stocks (equities) were also pushed higher.
The Thai baht edged up 0.3% while Malaysia's ringgit and Indonesia's rupiah strengthened the most. The ringgit surged 2.3 percent and the rupiah rose more than three percent higher. The ringgit has soared about eight percent this week, its best five-day run in 17 years. The South Korean won climbed almost 1%, the Australian dollar was 0.12% higher and the Taiwan dollar gained 1.0%.