Asian stocks were mixed as traders awaited the Federal Reserve's summer conference for indications on inflation control and interest rate hikes, with investors warned of potential surprises.
Asian currencies against the dollar had minor fluctuations, with the Japanese yen, Singapore dollar, and Taiwanese dollar showing slight gains, while the Chinese yuan experienced a slight decline; overall, there were small changes compared to the end of 2022.
The US dollar weakened slightly against major peers as traders awaited a speech from Federal Reserve Chair Jerome Powell, while the yen pulled away from a nine-month low and China's yuan briefly rose following attempts to bolster the currency.
Asian currencies slightly rose as U.S. yields increased, prompting Thailand's and China's central banks to stabilize their currencies, while the Philippines' central bank stated it may intervene to support its currency; additionally, traders are anticipating the U.S. Federal Reserve's symposium in Jackson Hole, Wyoming.
Asian shares fell and the dollar's rally stalled as the greenback weakened against most major currencies; concerns over Apple's iPhone sales in China and the expansion of a ban on iPhones in sensitive departments in China to government-backed agencies and state companies also weighed on sentiment.
Asian currencies, including the Japanese yen and the Singapore dollar, are trading against the US dollar with varied movements, while the year-to-date percentage changes for the currencies show fluctuations.
The Japanese yen strengthens against the US dollar as Bank of Japan Governor Kazuo Ueda hints at a potential shift away from negative interest rates.
The dollar remains stable in Asia, while the yuan strengthens due to positive economic data from China.
The US dollar remains stable in Asian trades as the yen and sterling experience slight fluctuations due to upcoming central bank meetings, including the Bank of Japan's policy meeting, the US Federal Reserve's hawkish pause, and the Bank of England's possible interest rate increase.
The US dollar remained strong against other currencies as traders awaited the Federal Reserve's rate decision, while the yen hovered near a 10-month low amidst speculation of intervention.
Asian currencies showed mixed performance against the U.S. dollar, with the yen and yuan experiencing slight declines while the rupee remained stable.
The Japanese yen remains weak against the U.S. dollar due to high U.S. Treasury yields and anticipation of the Bank of Japan maintaining its current monetary policies, while the dollar is boosted by the prospect of higher U.S. interest rates.
The yen weakened against the dollar as the Bank of Japan announced it would maintain its accommodative monetary policy, with little indication of rolling it back.
The Thai baht and Indonesian rupiah have weakened against the US dollar due to the dollar's strength and concerns about Pheu Thai's spending plans, while other Asian currencies have also seen losses.
European shares were mixed as the dollar continued to rally amid expectations of higher US interest rates and a property crisis in China.
Asian currencies, including the Malaysian ringgit, rose in holiday-thinned trading despite a challenging week for regional currencies due to hawkish U.S. Fed rhetoric and surging oil prices, while the U.S. dollar index remained largely flat and Asian stocks mostly traded higher.
Asian currencies against the dollar remained relatively stable, with minimal changes observed in the latest rates, according to data compiled by Reuters.
