Asian Currencies Consolidate; Fading Fed Rate-Cut Hopes May Weigh -- Market Talk
Dow Jones2025-01-13
0004 GMT - Asian currencies consolidate against the dollar in the early morning session. Friday's robust U.S. non-farm payrolls report reduces the probability of Fed rate cuts in the near term, CBA's Global Economic & Markets Research team says in a note. The dollar has further upside due to the "current market narrative of U.S. economic exceptionalism," the team says. U.S. domestic demand is growing solidly, the labor market is fully utilized, and core inflation is near the FOMC's 2%-per-year target, the team adds. USD/KRW is little changed at 1,474.13; USD/SGD is steady at 1.3712; AUD/USD is 0.1% higher at 0.6155. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 12, 2025 19:04 ET (00:04 GMT)
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