Asian Currencies Consolidate Ahead of U.S. CPI Data
Dow Jones
Aug 12
0128 GMT - Asian currencies consolidate against the dollar. Markets are keeping an eye on upcoming U.S. CPI data, which will provide further hints about the Federal Reserve's interest rate decision in September. The Federal Open Market Committee's focus has shifted more toward inflation figures than the labor market, MUFG Bank's Michael Wan says in a research report. "While the weaker than expected nonfarm payrolls numbers last week help, the CPI numbers later today are arguably more important," the senior currency analyst adds. The U.S. dollar is 0.2% higher at 1,413.43 won and is little changed at 159.31 yen, while the Australian dollar is flat at US$0.7063, LSEG data show.
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