Asian Currencies Weaken as Rate Fears Keep Dollar Steady
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#19fdf91f ver:0.15

Most Asian currencies moved in a flat-to-low range on Monday, nursing steep losses from the past week as concerns over higher-for-longer interest rates kept traders biased towards the dollar. Easing fears over a bigger conflict in the Middle East offered regional currencies some relief. However, most regional units still retained a bulk of their losses from the past week as traders priced out expectations of a June rate cut by the Federal Reserve. The dollar index futures fell slightly in Asian trade but remained close to over five-month highs hit earlier in April. The Chinese yuan's pair moved little after the People's Bank of China kept its benchmark loan prime rate on hold. The Japanese yen's pair moved little but remained well above the 154 level. The Australian dollar's pair rose 0.3%...

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