Asia FX flat amid US-China trade jitters; yen steady amid intervention chatter
Investing.com-- Most Asian currencies tread water on Thursday amid concerns over stricter U.S. trade restrictions on China, while the Japanese yen steadied after strengthening sharply this week on suspected intervention.
While the yen did take some support from the increased prospect of a U.S. rate cut, it also had to contend with weak local economic data, which limited any headroom for the Bank of Japan to tighten monetary policy. The report came as the yuan also contended with concerns over a slowing Chinese economic recovery, especially after second-quarter gross domestic product data pointed to slowing growth in the economy.
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