{"id":13976,"date":"2023-05-26T01:29:19","date_gmt":"2023-05-26T05:29:19","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/asia-fx-recoups-some-weekly-losses-dollar-steady-amid-debt-ceiling-impasse\/"},"modified":"2023-05-26T01:29:19","modified_gmt":"2023-05-26T05:29:19","slug":"asia-fx-recoups-some-weekly-losses-dollar-steady-amid-debt-ceiling-impasse","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13976","title":{"rendered":"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse"},"content":{"rendered":"
\n

Investing.com– Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets awaited more cues on progress towards raising the debt ceiling.<\/p>\n

The rose 0.2%, but was among the worst-performing Asian currencies this week, down nearly 2% as expectations of a wider gulf in local and\u00a0U.S. interest rates dented the currency. The yen was also trading just above six-month lows to the dollar.<\/p>\n

Softer-than-expected data on Friday spurred more expectations that the will hold off on tightening policy this year, although the reading was still well above the BOJ\u2019s 2% annual target.<\/p>\n

The rose 0.3%, rebounding from a near six-month low. But the currency remained well below the key 7 level to the dollar, also receiving little support from the Peoples Bank of China\u2019s daily midpoint fixes.<\/p>\n

The yuan was battered by concerns over a slowing economic rebound in China, as well as deteriorating ties between Beijing and Washington following a ban on Chinese sales of U.S. chipmaker Micron Technology Inc (NASDAQ:).<\/p>\n

Fears of a new COVID-19 outbreak in China also rattled sentiment, as media reports suggested that cases were once again on the rise.<\/p>\n

Broader Asian currencies advanced on Friday, but were nursing steep losses for the week as anxiety over a potential U.S. debt default and higher-for-longer kept currency markets fixated on the dollar.<\/p>\n

The rose 0.5%, while the added 0.4%. The rose 0.1%, but was close to a seven-month low as data on Friday showed that slowed in April amid increasing pressure from high inflation and interest rates.<\/p>\n

The and saw some profit-taking in Asian trade, falling about 0.2% each, but were up nearly 1% for the week. The two were also trading at their highest levels in two months.\u00a0<\/p>\n

Markets are awaiting a breakthrough in negotiations to raise the U.S. debt ceiling and avoid a government default, although lawmakers have given few signals that an agreement is imminent. But the dollar benefited from safe haven demand, as traders bet that even a default would do little to dent the greenback\u2019s position as the global reserve currency.<\/p>\n

Still, the prospect of a U.S. default bodes poorly for the global economy. This notion kept traders clear of risk-heavy Asian currencies.<\/p>\n

Expectations of a hawkish Federal Reserve also kept Asian units under pressure, as traders bet that U.S. rates will stay higher for longer.\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com– Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets awaited more cues on progress towards raising the debt ceiling. The rose 0.2%, but was among the worst-performing Asian currencies this week, down nearly 2% as expectations of a wider gulf in local […]<\/p>\n","protected":false},"author":1,"featured_media":13977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-13976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nAsia FX recoups some weekly losses, dollar steady amid debt ceiling impasse | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com-- Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=13976\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com-- Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=13976\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-26T05:29:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1685078959_LYNXMPEA5T0DN_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=13976#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=13976\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse\",\"datePublished\":\"2023-05-26T05:29:19+00:00\",\"dateModified\":\"2023-05-26T05:29:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=13976\"},\"wordCount\":413,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Forex\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=13976#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=13976\",\"url\":\"https:\/\/ifintechworld.com\/?p=13976\",\"name\":\"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-05-26T05:29:19+00:00\",\"dateModified\":\"2023-05-26T05:29:19+00:00\",\"description\":\"Investing.com-- Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=13976#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=13976\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=13976#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse | iFintechWorld","description":"Investing.com-- Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=13976","og_locale":"en_US","og_type":"article","og_title":"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse | iFintechWorld","og_description":"Investing.com-- Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets","og_url":"https:\/\/ifintechworld.com\/?p=13976","og_site_name":"iFintechWorld","article_published_time":"2023-05-26T05:29:19+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/1685078959_LYNXMPEA5T0DN_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=13976#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=13976"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse","datePublished":"2023-05-26T05:29:19+00:00","dateModified":"2023-05-26T05:29:19+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=13976"},"wordCount":413,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Forex"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=13976#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=13976","url":"https:\/\/ifintechworld.com\/?p=13976","name":"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-05-26T05:29:19+00:00","dateModified":"2023-05-26T05:29:19+00:00","description":"Investing.com-- Most Asian currencies rose on Friday, recovering from steep losses this week, while the dollar steadied below two-month highs as markets","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=13976#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=13976"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=13976#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Asia FX recoups some weekly losses, dollar steady amid debt ceiling impasse"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/13976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13976"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/13976\/revisions"}],"predecessor-version":[{"id":13978,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/13976\/revisions\/13978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/13977"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}