Investing.com– Most Asian currencies weakened on Friday, while the dollar steadied in anticipation of key inflation data that is expected to factor into the Federal Reserve’s stance on interest rate cuts.
While an overnight drop in the dollar- following weaker-than-expected U.S. gross domestic product data- offered some relief to Asian units, this was largely offset by persistent bets on higher-for-longer U.S. interest rates. The dollar also trimmed some of its losses in Asian trade.
Japanese yen weakens, USDJPY crosses 156 after BOJ
The Japanese yen was an underperformer, with the pair rising past 156 to…
To read the full article please click HERE
Credit: Source link