Asian Currencies Consolidate; May be Buoyed by Reduced Fed Rate-Hike Prospects
Dow Jones08:01
0001 GMT - Asian currencies consolidate against the dollar in early trade, but may be buoyed by reduced Fed rate-hike prospects. Expectations for a Fed rate increase in September were lowered following the weak U.S. nonfarm payrolls report released Friday, StoneX's Matt Simpson says in commentary. "Fed fund futures now imply a 57% of no rate change in September, from a 54% chance of a hike before" the report, the senior market analyst notes. The U.S. dollar is steady at 1,407.80 won and is little changed at 6.7432 offshore yuan, while the Australian dollar edges 0.1% lower to US$0.7061, LSEG data show.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments