Asian Currencies Consolidate; May be Weighed by Worsening Risk Appetite
Dow Jones
Aug 19
0055 GMT - Asian currencies consolidate against the dollar in early trade, but may be weighed by worsening risk appetite. There's been "another risk-off session as U.S. equities sold off for a third straight session" overnight, UOB's Global Economics & Markets Research team says in a report. "The dominant market risk remains the ongoing U.S.-Iran conflict and the impending U.S.-Canada tariff deadline," the team adds. Absent a U.S.-Canada agreement, a new 50% U.S. tariff on certain Canadian goods kicks in on Wednesday. The U.S. dollar is 0.1% lower at 159.43 yen, but is little changed at 1.2785 Singapore dollars, while the Australian dollar is 0.1% lower at US$0.7078, LSEG data show.
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