Asia FX muted; yen slides as BOJ disappoints on bond buying cutback
Investing.com-- Most Asian currencies were muted on Friday amid concerns over high-for-longer U.S. interest rates, while the Japanese yen weakened sharply after the Bank of Japan struck a dovish tone.
Regional currencies were pressured by a rebound in the dollar, which recovered all of its losses seen through the week as hawkish signals from the Federal Reserve offset some signs of cooling inflation.and said it will only provide clear signals on its plans to begin reducing its bond purchases at its July meeting, and that it was meeting with market participants in the interim to gain more insight.
The tariffs come shortly after a similar move by the U.S., and ramped up concerns over retaliatory tariffs by Beijing, which could spark a renewed trade war between the world’s largest economies.rose in Asian trade on Friday, extending an overnight rebound as markets digested an outlook for fewer interest rate cuts this year.data for May, the greenback rebounded after the Fed said it only saw scope for one rate cut this year, compared to earlier forecasts of three cuts.
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