Asia FX muted as Powell comments offer little cheer, dollar steadies
Investing.com-- Most Asian currencies kept to a tight range on Friday, while the dollar steadied following somewhat mixed comments from Federal Reserve Chair Jerome Powell on the path of interest rates.
Powell’s comments were seen as somewhat dovish, as the Fed Chair said that a recent spike in bond yields was helping tighten financial conditions, lessening the need for more rate hikes. While overall inflation still eased, a core reading followed by the Bank of Japan remained near 40-year highs, indicating that underlying inflation still remained largely elevated.fell 0.1%, tracking recent declines in commodity prices. But the dollar was also set to add 0.5% this week, as it recovered from a near one-year low hit earlier in October.through the third quarter. But this was insufficient in boosting the yuan, which remained close to a near 16-year low hit earlier in October.
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