Asian Currencies Consolidate as Safe-Haven Demand May Weigh on Them
Asian currencies consolidated against the dollar. CBA's Kristina Clifton said safe-haven demand for the greenback may weigh on them amid Russia-Ukraine tensions.
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Asian currencies consolidated against the dollar. CBA's Kristina Clifton said safe-haven demand for the greenback may weigh on them amid Russia-Ukraine tensions.
Asian currencies consolidated against the dollar. Rising Middle East tensions could weigh on them by supporting safe-haven demand for the greenback.
The yuan held steady in onshore and offshore trading after mainland markets reopened from a long holiday. The PBOC set the USD/CNY fixing at 6.7367, compared with 6.7351 on Sept. 30.
Nomura says the Reserve Bank of India’s surprise move to a calibrated tightening stance from neutral was meant to anchor inflation expectations and build a buffer against adverse global conditions. The bank expects a second 25-basis-point rate hike in December, then a pause, and notes the RBI raised its FY27 GDP growth
The Reserve Bank of New Zealand is recruiting for assistant governor monetary policy and assistant governor payments and cash roles. The search follows the departure of Assistant Governor Money Karen Silk, while Governor Anna Breman says the move is meant to strengthen leadership and coordination.
Japanese government bonds rose in morning Tokyo trade amid possible position adjustments, with the 30-year JGB yield down at 4.185%. Traders are also watching Thursday's Japanese Finance Ministry auction of about 600 billion yen of 30-year sovereign debt.
Asian currencies were little changed in early trade, while strategists said rising Middle East tensions and firmer oil prices could support the U.S. dollar. The Australian dollar, Singapore dollar and won were broadly flat against the greenback.