An employee counts Indonesian rupiah banknotes at a currency exchange office in Jakarta, Indonesia October 23, 2018. Picture taken October 23, 2018. REUTERS/Beawiharta/FilesForeign investors were net sellers of Asian bonds for a second straight month in April as a strong U.S. dollar and uncertainties around the Federal Reserve's interest rate cuts dampened appetite.
The dollar index rose to as high as 106.51 last month, a 5-1/2 month peak. It ended the month up 1.76 per cent, its largest gain in three. Indian bonds also experienced a shift, with these investors pulling out $1.31 billion, halting a year-long buying streak.Conversely, South Korean and Malaysian bonds attracted $1.86 billion and $122 million worth of foreign capital, respectively.