Asian Currencies Stable Amid US Dollar Strength, Fed Rate Cut Uncertainty
Update: 2025-11-12
Description
Asian currencies remained largely unchanged on November twelfth, as traders focused on the Federal Reserves potential interest rate cuts and the ongoing U.S. government shutdown. The U.S. dollar strengthened, benefiting from safe-haven investments like gold. The Japanese yen saw a slight increase, while the Chinese yuan and Australian dollar remained steady. The Singapore dollar and South Korean won climbed, reaching seven-month highs. The Indian rupee and Taiwan dollar also saw small gains. The dollar index and its futures rose slightly, with markets awaiting a potential end to the government shutdown. The Senate approved a bill to unlock more government spending, sending it to the House for further approval. The Federal Reserves future interest rate cut plans remain uncertain, with policymakers divided and delayed economic data complicating their decision-making process.
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