Address

Precise Investors

Sunday, April 11, 2021
Trading

Asian currencies hold steady in narrow trade; Chinese Yuan eases after four-day rally

Asian currencies held mostly steady in tight range trade against a firmer dollar on Friday, while the Chinese Yuan snapped four straight sessions of gains as tight offshore liquidity eased.

Investors refrained from making major trades ahead of non-farm payrolls data from the United States due later on Friday, which could bolster the odds for an interest rate rise in June. A solid number will support the outlook for another rate hike by the year-end, likely in September.

“The U.S. wage data is partially the reason why markets have been subdued in Asia this morning, as it could cement a rate hike in June and support the dollar, which would cause Asian currencies to retreat,” said Khoon Goh, head of Asia research at Australia and New Zealand Banking Group in Singapore.

“There isn’t much of a lead for Asian currencies today.”

Important:

The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply

five × two =