Asian Currencies Strengthen Amid Reduced Fed Rate-Hike Expectations
Dow Jones08:52
0052 GMT - Asian currencies strengthen slightly against the dollar amid reduced Fed rate-hike expectations that could bolster risk appetite. These expectations are driven by benign inflation and softer labor market data in the U.S., two strategists at OCBC Group Research say in a research report. "Markets now price only a 30% probability of a Fed hike next month, down from around 55% before the July [U.S.] jobs report," the strategists note. However, "the Fed will receive another round of CPI and employment data before its September meeting," the strategists add. The U.S. dollar is 0.1% lower at 159.08 yen, while Australian dollar is 0.1% higher at US$0.7089, LSEG data show.
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