Most Asian currencies rose slightly on Friday ahead of key U.S. payrolls data
Rebound in Japanese yen from 34-year lows amid currency market intervention
USDJPY pair fell 0.4% to 153.02, impacted by Japanese government intervention
USDJPY pair at 160 seen as new line for currency market intervention
Asian trading volumes low due to market holidays in Japan and China
Broad Asian currencies rose slightly, with AUDUSD pair up 0.2%
South Korean wonโs USDKRW pair fell 0.3%, Singapore dollarโs USDSGD pair fell 0.1%
Indian rupeeโs USDINR pair fell slightly below record highs hit in April
Dollar steadied in Asian trade after tumbling, focus on nonfarm payrolls data for April
Strong labor market might lead Fed to keep rates high for longer
Yen headed for best week in over a year, gaining more than 3%
Dollar on the back foot, losing ground against most peers
US nonfarm payrolls data awaited to guide dollarโs next moves
Australian dollar on track to gain nearly 0.6% for the week
New Zealand dollar plans for a 0.4% weekly gain
Asian stocks surged following Appleโs record $110 billion share buyback plan
Yen still down 8% against the dollar this year despite recent bounce
Dollar index last at 105.25, set for worst weekly performance since early March
U.S. stocks ended higher on Thursday, with Nasdaq advancing 1.5%
Canadian dollar strengthened against U.S. counterpart
Federal Reserve emphasized that inflation remains high and no plans to cut interest rates soon
Various currencies, like AUD, NZD, GBP, and EUR, strengthened against the Greenback due to positive market sentiment
Global stocks rallied on risk-on sentiment, with the Dow and S&P 500 rising
The Japanese Yen gained against the Dollar amid suspected intervention
Gold prices struggled to gain traction despite a less hawkish Fed outlook
The US Jobs Report is awaited for fresh directional impetus in the market
Asian Currencies React to U.S. Payrolls Data and Currency Interventions
Ahead of the release of key U.S. payrolls data, most Asian currencies experienced slight gains, signaling anticipation and market activity.
The Japanese yen saw a rebound from 34-year lows, potentially influenced by currency market interventions, impacting trading dynamics.
The weakness in the dollar provided breathing room for regional currencies, allowing for slight increases in values and trading patterns.
The USDJPY pairโs movement, impacted by Japanese government intervention and a new line set at 160, showcased the delicate balance of currency markets.
As Asian trading volumes remained low due to market holidays, the overall market sentiment was influenced by specific currency movements and intervention strategies.
Broad Asian currencies experienced slight rises, with specific pairings like AUDUSD and USDKRW showing marginal changes in values.
The South Korean won and Singapore dollar faced fluctuations against the Greenback, showcasing the interconnected nature of global currency markets.
The Indian rupeeโs performance against the dollar fell slightly below record highs, highlighting regional economic challenges.
The dollarโs steadiness in Asian trade following a period of decline placed emphasis on the importance of upcoming economic data releases.