Asian Currencies Mostly Weaken Amid Fed Rate-Hike Expectations
Dow Jones
51 mins ago
0321 GMT - Asian currencies mostly weaken against the dollar in early trade, amid expectations of Fed rate hikes that enhance the appeal of U.S. dollar-denominated fixed-income assets. The latest U.S. inflation prints were broadly in line with expectations, but hot enough to strengthen expectations for a Fed rate hike this week, Commerzbank Research analysts say in a note. The Fed funds futures raised the probability of a 25 bps hike this week to 88%, compared to 62% last Monday, they note. The U.S. dollar rises 0.3% each to 1,345.80 won and 154.06 yen, while the Australian dollar is 0.2% down at US$0.7151, LSEG data show.
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