Asian Currencies Consolidate but May be Aided by Reduced Fed Rate-Hike Bets
Dow Jones07:42
2342 GMT - Asian currencies consolidate against the dollar in early trade but may be aided by reduced bets for Fed rate increases. "New York Fed President Williams said one further rate hike may be appropriate late this year, though he signalled no urgency to act following the [rate] increase earlier this month," CBA's Joseph Capurso says in a research report. Hence, market pricing for a 25bp rate increase at next FOMC meeting in October declined to 49% from 71% previously, the head of Foreign Exchange, International & Geoeconomics adds. The U.S. dollar is little changed at 1,352.15 won while the Australian dollar is steady at US$0.6985, LSEG data show.
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