Asian Currencies Consolidate; May be Weighed by Fed Rate-Hike Prospects
Dow Jones
Yesterday
0006 GMT - Asian currencies consolidate against the dollar, but may be weighed by Fed rate-hike prospects. The U.S. Dollar Index could "test resistance at 99.40 late in the week if market pricing for a September rate hike from the Fed increases as we expect," CBA's Global Economic & Markets Research team says in a research report. U.S. August CPI data, due this Friday, is a "crucial input" into the Fed's September decision," the team says. "Market pricing for a September hike is currently a coin toss near 50%," the team adds. The U.S. Dollar Index is little changed at 99.151; the dollar is 0.2% higher at 1,346.50 won and is steady at 1.2670 Singapore dollars.
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