{"id":165153,"date":"2023-10-26T22:02:19","date_gmt":"2023-10-26T19:02:19","guid":{"rendered":"http:\/\/kupitiblog.store\/576r\/asia-fx-muted-as-powell-comments-offer-little-cheer-dollar-steadies\/"},"modified":"2023-10-26T22:02:19","modified_gmt":"2023-10-26T19:02:19","slug":"asia-fx-muted-as-powell-comments-offer-little-cheer-dollar-steadies","status":"publish","type":"post","link":"https:\/\/kupitiblog.store\/576r\/asia-fx-muted-as-powell-comments-offer-little-cheer-dollar-steadies\/","title":{"rendered":"Asia FX muted as Powell comments offer little cheer, dollar steadies"},"content":{"rendered":"


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Investing.com— Most Asian currencies kept to a tight range on Friday, while the dollar steadied following somewhat mixed comments from Federal Reserve Chair Jerome Powell on the path of interest rates.\u00a0<\/p>\n

Persistent concerns over the Israel-Hamas war also kept traders largely wary of risky assets, especially amid growing fears over a bigger conflict in the Middle East.\u00a0<\/p>\n

Powell\u2019s comments were seen as somewhat dovish, as the Fed Chair said that a recent spike in bond yields was helping tighten financial conditions, lessening the need for more rate hikes.\u00a0<\/p>\n

But Powell still left the door open for at least one more rate hike this year, amid resilience in the U.S. economy and sticky inflation levels.\u00a0<\/p>\n

The dollar index<\/span> and dollar index futures<\/span> logged some losses after Powell\u2019s speech, but steadied in Asian trade on Friday. The greenback was still set to close the week about 0.4% lower, as traders locked in some recent profits.<\/p>\n

U.S. Treasury yields also saw extended losses on Friday as a recent rally paused, although the 10-year rate<\/span> remained within spitting distance of the 5% level.\u00a0<\/p>\n

Regional currencies saw some relief in overnight trade as the dollar retreated. But this was limited, with most units moving in a flat-to-low range on Friday. Most currencies were also set to end the week unchanged.<\/p>\n

The Japanese yen<\/span> was flat after data showed that consumer price index inflation<\/span> grew more than expected in September.\u00a0<\/p>\n

While overall inflation still eased, a core reading followed by the Bank of Japan remained near 40-year highs, indicating that underlying inflation still remained largely elevated.\u00a0<\/p>\n

The Indian rupee<\/span> fell slightly, with any overnight gains being largely offset by higher oil prices. The South Korean won<\/span> rose 0.2%, but was down for a second consecutive week.<\/p>\n

The Australian dollar<\/span> fell 0.1%, tracking recent declines in commodity prices. But the dollar was also set to add 0.5% this week, as it recovered from a near one-year low hit earlier in October.<\/p>\n

Chinese yuan flat as PBOC keeps rates on hold\u00a0<\/h2>\n

The Chinese yuan<\/span> fell slightly on Friday as the People\u2019s Bank of China held its benchmark loan prime rate<\/span> at record lows.\u00a0<\/p>\n

The move came as data earlier this week showed some improvement in Chinese economic growth<\/span> through the third quarter. But this was insufficient in boosting the yuan, which remained close to a near 16-year low hit earlier in October.\u00a0<\/p>\n

Fears of a major default in China\u2019s property market, coupled with a growing trade tiff with the U.S. were a major weight on the yuan in recent sessions. Focus was squarely on embattled developer Country Garden <\/span><\/span> Holdings (HK:2007<\/span>), which appeared to have missed a key repayment deadline for its offshore bonds this week.<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  Investing.com— Most Asian currencies kept to a tight range on Friday, while the dollar steadied following somewhat mixed comments from Federal Reserve Chair Jerome Powell on the path of interest rates.\u00a0 Persistent concerns over the Israel-Hamas war also kept traders largely wary of risky assets, especially amid growing fears over a bigger conflict in …<\/p>\n","protected":false},"author":1,"featured_media":165155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3351],"tags":[],"yoast_head":"\nAsia FX muted as Powell comments offer little cheer, dollar steadies - BiznesSMI - \u043a\u043e\u0442\u0438\u0440\u043e\u0432\u043a\u0438 \u0432\u0430\u043b\u044e\u0442, \u0430\u043a\u0446\u0438\u0438, \u0444\u043e\u0440\u0435\u043a\u0441, \u0438\u043d\u0434\u0435\u043a\u0441\u044b, \u0430 \u0442\u0430\u043a\u0436\u0435 \u0442\u0435\u0445\u043d\u0438\u0447\u0435\u0441\u043a\u0438\u0439 \u0430\u043d\u0430\u043b\u0438\u0437, \u0433\u0440\u0430\u0444\u0438\u043a\u0438, \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0435 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia FX muted as Powell comments offer little cheer, dollar steadies - 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