Asia FX muted as dollar steadies near 3-mth high; RBA rate decision in focus By Investing.com
Update: 2025-11-03
Description
Asian currencies started the week on a slow note, with most trading in a narrow range against the US dollar. The U.S. Federal Reserve's comments downplaying a December interest rate cut and the US-China trade deal on rare earth supplies failed to move the Chinese yuan or other regional currencies. The Australian dollar was also on hold ahead of the Reserve Bank of Australia's meeting, with expectations of no rate change due to hotter-than-predicted inflation numbers. The Japanese yen weakened to its lowest point in nine months, with markets cautious about big interest rate hikes from the Bank of Japan. The dollar remained near its highest level in three months, boosted by private labor market data and Federal Reserve Chair Jerome Powell's comments. Overall, Monday saw minimal movement in major Asian currencies, with the Singapore dollar, Taiwan dollar, and Indian rupee making tiny moves. The market remains watchful for central bank updates and economic reports.
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