Asian currencies subdued after mixed US data
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Most Asian currencies were subdued on Friday as mixed US data solidified bets of fewer rate cuts. The broad MSCI emerging markets currency index was up 0.2% for the week so far. The Japanese yen hit a fresh 34-year low. The South Korean won lost 0.3% on Friday, but was on track to post its first weekly gain in seven weeks. The Malaysian ringgit was largely flat and headed for a 0.1% rise for the week. In Indonesia, the rupiah extended losses. The Philippines’ finance minister said the central bank has no plans to hike interest rates. Gains in US tech stocks buoyed tech-heavy South Korean and Taiwan stock markets.

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https://www.brecorder.com/news/40300514