Asia FX firms as dollar dips with Fed, BOJ on tap
Investing.com-- Most Asian currencies firmed on Monday, while the dollar retreated before a Federal Reserve meeting this week that is likely to yield more cues on the bank’s plans to cut interest rates.
The Japanese yen was among the better performers, with the currency strengthening further on Monday after marking three weeks of outsized appreciation. A Bank of Japan meeting is also due later this week, with markets split over a 10 basis point hike. Broader Asian currencies steadied after weathering a swathe of selling last week, as uncertainty over the U.S. presidential race and continued concerns over China battered risk-driven assets.The reading ramped up bets that the Fed was close to gaining enough confidence to begin cutting rates by September., where the central bank is expected to keep rates unchanged.
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