Asian Currencies Consolidate, but May be Aided by Reduced Fed Rate-Hike Prospects
Dow Jones
Yesterday
0003 GMT - Asian currencies consolidate against the dollar in early trade, but may be aided by reduced Fed rate-hike prospects that tend to diminish the appeal of U.S. fixed-income assets. "Financial markets judged September's softer U.S labour market report as giving the FOMC more time to assess conditions before adjusting policy further," ANZ Research analysts say in a research report. Also, "senior Fed officials have signalled there is no need for urgency, and markets have sharply reduced expectations of an October rate hike," the analysts add. The U.S. dollar edges 0.1% lower to 157.68 yen, but is little changed at 1.2793 Singapore dollars, LSEG data show.
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