Asian currencies were firm on Thursday against a dollar knocked by softer-than-expected U.S. inflation, save for the yen which remained squeezed ahead of a...
SINGAPORE - Asian currencies were firm on Thursday against a dollar knocked by softer-than-expected U.S. inflation, save for the yen which remained squeezed ahead of a Bank of Japan meeting and as U.S. policymakers signalled rates would be kept high for a while yet.
Sterling rose 0.5% overnight to $1.2798. Morning moves were modest in Asia trade, though beaten down currencies such as Indonesia's rupiah were likely poised for some relief. China's yuan was steady at 7.2627 in early offshore trade, having gained a little on the dollar overnight. The Bank of Japan concludes a two-day policy meeting on Friday and markets are expecting some sort of announcement or signal that the bank will be pulling back on massive bond purchases to allow further rises in Japanese yields.
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