Asia Fx Muted As China Woes Weigh, U.s. Retail Sales Awaited

  • Posted on July 18, 2023
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  • By FC Team
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 Most Asian currencies kept to a tight range on Tuesday as concerns over slowing economic growth in China continued to weigh, with focus turning to more upcoming cues on the U.S. economy and monetary policy. The dollar languished near 15-month lows, as weak inflation readings saw markets pricing in potentially fewer interest rate hikes by the Federal Reserve in the coming months. The dollar index and dollar index futures fell about 0.1% each, moving further below the 100 level.But despite weakness in the dollar and expectations that U.S. rates were close to peaking, Asian currencies saw little inflows, with data showing weak economic growth in China denting sentiment towards the region.The Japanese yen traded sideways, while the Australian dollar recovered a measure of steep losses from the prior session. Investing.com

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