Investing.com UK on Nostr: Asia FX steadies as dollar dips after Powell comments; yen intervention eyed ...
Asia FX steadies as dollar dips after Powell comments; yen intervention eyed
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Most Asian currencies steadied on Wednesday following some weakness in the dollar after Federal Reserve Chair Jerome Powell flagged progress towards bringing down inflation. The Japanese yen remained weak, with focus on potential currency market intervention by the government. Sentiment towards Asian markets remained weak following disappointing purchasing managers index data from China. Losses in the dollar were limited, given that Powell also warned that the Fed still needed more confidence to begin cutting interest rates. Traders remained on guard over potential intervention measures by the Japanese government. The Chinese yuan weakened due to weak purchasing managers index data. Broader Asian currencies steadied from recent losses, although sentiment remained weak amid uncertainty over U.S. rates.
#AsiaFx #Dollar #PowellComments #YenIntervention
https://uk.investing.com/news/forex-news/asia-fx-steadies-as-dollar-dips-after-powell-comments-yen-intervention-eyed-3574978
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Most Asian currencies steadied on Wednesday following some weakness in the dollar after Federal Reserve Chair Jerome Powell flagged progress towards bringing down inflation. The Japanese yen remained weak, with focus on potential currency market intervention by the government. Sentiment towards Asian markets remained weak following disappointing purchasing managers index data from China. Losses in the dollar were limited, given that Powell also warned that the Fed still needed more confidence to begin cutting interest rates. Traders remained on guard over potential intervention measures by the Japanese government. The Chinese yuan weakened due to weak purchasing managers index data. Broader Asian currencies steadied from recent losses, although sentiment remained weak amid uncertainty over U.S. rates.
#AsiaFx #Dollar #PowellComments #YenIntervention
https://uk.investing.com/news/forex-news/asia-fx-steadies-as-dollar-dips-after-powell-comments-yen-intervention-eyed-3574978