Asia FX steady as dollar drops amid rate cut speculation; Indian rupee surges
Investing.com-- Most Asian currencies steadied on Monday, recouping some recent losses against the dollar after in-line inflation data pushed up expectations for interest rate cuts and sparked steep declines in the greenback.
But gains in regional currencies were held back by persistent caution over U.S. interest rates, especially in anticipation of key U.S. labor data and a Federal Reserve meeting.The reading sparked some expectations that the Fed will begin cutting rates in September.
Investors have largely cheered the BJP’s business-first measures over the past five years, which sparked outsized growth in the Indian economy.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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