Investing.com– Most Asian currencies weakened on Monday as the dollar steadied from a tumble on Friday after weaker-than-expected payrolls data saw markets ramp up bets on interest rate cuts by the Federal Reserve.
The Japanese yen was the worst performer in Asia, reversing course after apparent government intervention last week saw the currency rebound from 34-year lows.
Most regional currencies were also sitting on strong gains from Friday, following the payrolls reading and the corresponding drop in the dollar. But the greenback found its footing on Monday.
Japanese yen reverses some gains, USDJPY rises
The…
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