Asia FX nurses steep losses as dollar firms before Powell speech
Investing.com-- Most Asian currencies were muted on Thursday, nursing steep overnight losses as the dollar firmed tracking a spike in Treasury yields before a closely-watched address by Federal Reserve Chair Jerome Powell.
Sentiment remained frail amid little signs of deescalation in the Israel-Hamas war, which kept traders wary of risk-driven assets. This was exacerbated by a rout in the bond market, as traders positioned for higher interest rates.gaining slightly in Asian trade. Both instruments rose about 0.3% in overnight trade, and were within sight of a 11-month peak.at the Economic Club of New York later in the day.
A massive default in China's property market bodes poorly for the economy, given that the market accounts for roughly a quarter of local economic activity.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases.
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