By Ambar Warrick
Oct 16 (Reuters) – Most Asian currencies ticked up against the dollar on Monday, which softened after disappointing U.S. inflation data on Friday undercut the greenback.
The dollar index was little changed, lacking momentum after having posted its first weekly fall last week as underlying inflation remained muted despite a jump in U.S. consumer prices.
“Markets have apparently found a happy medium after all the tax reform and U.S. economic data had markets pricing in a quicker pace of Fed normalisation, underpinning the broader USD,” Stephen Innes, Head of Trading Asia at FX broker OANDA said in a note.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.