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Asian Currencies Mixed but Could Strengthen on Fed Rate-Cut Hopes

·1 min

Asian currencies are seeing mixed performance against the USD in the morning session. However, they may strengthen due to hopes of a U.S. rate-cut. Fed officials’ comments overnight have indicated satisfaction with U.S. inflation’s steady downward path towards the Fed’s target. The Atlanta Fed President and Fed Governor both suggested that rate cuts would be appropriate as inflation approaches the target. Notable currency movements include USD/KRW falling 0.3% to 1,309.74, USD/PHP rising 0.2% to 55.75, and AUD/USD gaining 0.2% to 0.6731.