{"id":40507,"date":"2023-07-26T00:43:52","date_gmt":"2023-07-26T04:43:52","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/asia-fx-slips-as-fed-hike-approaches-aussie-slides-on-weak-cpi\/"},"modified":"2023-07-26T00:43:53","modified_gmt":"2023-07-26T04:43:53","slug":"asia-fx-slips-as-fed-hike-approaches-aussie-slides-on-weak-cpi","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=40507","title":{"rendered":"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI"},"content":{"rendered":"
\n

Investing.com– Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate hike from the Federal Reserve.<\/p>\n

The was the worst performer among its peers, falling sharply after softer-than-expected consumer price index (CPI) inflation data ramped up bets that the Reserve Bank of Australia (RBA) was done hiking interest rates.\u00a0<\/p>\n

Broader Asian currencies also fell, as optimism over more stimulus measures in China cooled and as the Fed decision approached. lost 0.3%, while the and the shed 0.1% each.<\/p>\n

Australian dollar slides as markets look to RBA pause\u00a0<\/h2>\n

The Australian dollar fell 0.4% after data showed that grew less than expected in the second quarter.<\/p>\n

The reading boosted expectations that the RBA will announce an extended pause in its rate hike cycle next week- which diminishes the Aussie\u2019s appeal.<\/p>\n

But given that Australia\u2019s labor market remains strong, inflation may be sticker than expected in the coming months- a scenario that could see the RBA once again begin raising rates.\u00a0<\/p>\n

Fed rate hike in focus, dollar steady<\/h2>\n

The dollar steadied in Asian trade after rebounding sharply from 15-month lows in the past week. The and moved less than 0.1% each on Wednesday.<\/p>\n

While the Fed is widely expected to (bps), markets remain uncertain over the bank\u2019s outlook for future hikes. The Fed has so far signaled that it will raise rates by at least 50 bps more this year, given that inflation is still trending above the central bank\u2019s annual target.<\/p>\n

But inflation has also cooled substantially in recent months, which spurred bets that the Fed\u2019s hike on Wednesday will be its last for the year.\u00a0<\/p>\n

While the prospect of no more rate hikes bodes well for Asian currencies, gains are expected to be limited with U.S. rates set to remain higher for longer.<\/p>\n

Japanese yen muted, BOJ in focus<\/h2>\n

The Japanese yen fell slightly on Wednesday, with focus also turning to a this Friday.<\/p>\n

While the BOJ is widely expected to keep its ultra-dovish yield curve control (YCC) policy unchanged, some analysts warned that the bank could deliver a hawkish surprise, especially amid sticky inflation and sluggish wage growth.<\/p>\n

The International Monetary Fund’s chief economist Pierre-Olivier Gourinchas said on Tuesday that the BOJ should start preparing for future monetary tightening, citing economic risks from inflation remaining elevated.<\/p>\n<\/div>\n

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

Investing.com– Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate hike from the Federal Reserve. The was the worst performer among its peers, falling sharply after softer-than-expected consumer price index (CPI) inflation data ramped up bets that the Reserve Bank of Australia (RBA) was […]<\/p>\n","protected":false},"author":1,"featured_media":40508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-40507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nAsia FX slips as Fed hike approaches, Aussie slides on weak CPI | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com-- Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate\" \/>\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=40507\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Investing.com-- Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=40507\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-26T04:43:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-26T04:43:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/LYNXNPEE4O04Y_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"531\" \/>\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=40507#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=40507\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI\",\"datePublished\":\"2023-07-26T04:43:52+00:00\",\"dateModified\":\"2023-07-26T04:43:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=40507\"},\"wordCount\":406,\"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=40507#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=40507\",\"url\":\"https:\/\/ifintechworld.com\/?p=40507\",\"name\":\"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-07-26T04:43:52+00:00\",\"dateModified\":\"2023-07-26T04:43:53+00:00\",\"description\":\"Investing.com-- Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=40507#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=40507\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=40507#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI\"}]},{\"@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 slips as Fed hike approaches, Aussie slides on weak CPI | iFintechWorld","description":"Investing.com-- Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate","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=40507","og_locale":"en_US","og_type":"article","og_title":"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI | iFintechWorld","og_description":"Investing.com-- Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate","og_url":"https:\/\/ifintechworld.com\/?p=40507","og_site_name":"iFintechWorld","article_published_time":"2023-07-26T04:43:52+00:00","article_modified_time":"2023-07-26T04:43:53+00:00","og_image":[{"width":800,"height":531,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/LYNXNPEE4O04Y_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=40507#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=40507"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI","datePublished":"2023-07-26T04:43:52+00:00","dateModified":"2023-07-26T04:43:53+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=40507"},"wordCount":406,"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=40507#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=40507","url":"https:\/\/ifintechworld.com\/?p=40507","name":"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-07-26T04:43:52+00:00","dateModified":"2023-07-26T04:43:53+00:00","description":"Investing.com-- Most Asian currencies retreated on Wednesday, while the dollar steadied as investors hunkered down before a widely expected interest rate","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=40507#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=40507"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=40507#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Asia FX slips as Fed hike approaches, Aussie slides on weak CPI"}]},{"@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\/40507","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=40507"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/40507\/revisions"}],"predecessor-version":[{"id":40509,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/40507\/revisions\/40509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/40508"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}