{"id":18631,"date":"2023-06-05T23:04:51","date_gmt":"2023-06-06T03:04:51","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/asia-fx-edges-higher-as-dollar-dips-aussie-muted-ahead-of-rba\/"},"modified":"2023-06-05T23:04:51","modified_gmt":"2023-06-06T03:04:51","slug":"asia-fx-edges-higher-as-dollar-dips-aussie-muted-ahead-of-rba","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18631","title":{"rendered":"Asia FX edges higher as dollar dips; Aussie muted ahead of RBA"},"content":{"rendered":"
\n

Investing.com– Most Asian currencies rose slightly on Tuesday, taking some relief from a weaker dollar after U.S. service sector data disappointed for May, while the Australian dollar crept lower amid uncertainty over a Reserve Bank interest rate decision.\u00a0<\/p>\n

The fell 0.1%, with markets split over whether the . The bank had unexpectedly raised rates in May, and could be inclined to do so again after a stronger-than-expected .<\/p>\n

But other indicators showed that the Australian economy was cooling further, as an unexpected drop in the country\u2019s trade surplus looked set to off its first-quarter gross domestic product. This came even as Australia logged a much bigger-than-expected first quarter surplus.<\/p>\n

Broader Asian currencies inched higher as the dollar sank from near 11-week highs, after data showed that the barely grew in May.<\/p>\n

The and extended losses into Asian trade, falling 0.1% each as the data signaled more cooling in the U.S. economy, presenting lesser headroom for the Fed to keep raising interest rates.<\/p>\n

But this offered some relief to Asian currencies, which were battered by fears of a hawkish Fed in recent sessions.\u00a0<\/p>\n

The edged up from six-month lows against the dollar on Tuesday, ahead of key and data due this week, which is expected to shed more light on an economic rebound in the country.\u00a0<\/p>\n

Better-than-expected offered some relief to the yuan, which was otherwise battered by fears of a slowing post-COVID rebound in the country.\u00a0<\/p>\n

The was flat after strengthening against the greenback in overnight trade. A drop in Japanese and \u00a0 pointed to a potential slowdown in inflation over the coming months, with also continuing to lag in the country.<\/p>\n

The rate sensitive rose 0.3%, while the was flat ahead of a this week.<\/p>\n

Still, broader sentiment remained largely frayed ahead of a , with markets split over whether the central bank will pause its rate hike cycle. While both U.S. inflation and labor market data read higher-than-expected in recent months, an overall slowdown in the economy could see the Fed temper its hawkish stance.\u00a0<\/p>\n<\/div>\n

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

Investing.com– Most Asian currencies rose slightly on Tuesday, taking some relief from a weaker dollar after U.S. service sector data disappointed for May, while the Australian dollar crept lower amid uncertainty over a Reserve Bank interest rate decision.\u00a0 The fell 0.1%, with markets split over whether the . The bank had unexpectedly raised rates in […]<\/p>\n","protected":false},"author":1,"featured_media":18632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-18631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nAsia FX edges higher as dollar dips; Aussie muted ahead of RBA | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com-- Most Asian currencies rose slightly on Tuesday, taking some relief from a weaker dollar after U.S. service sector data disappointed for\" \/>\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=18631\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia FX edges higher as dollar dips; 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