Asian currencies and Gold pounce on Fed’s easing bias

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Asian currencies are now climbing higher after the Dollar index (DXY) fell below the psychological 97 mark during the Asian session, as the Federal Reserve confirmed market expectations and ditched its patient stance on US interest rates. North Asian currencies such as the South Korean Won and the Japanese Yen are gaining by about 0.5 percent, while ASEAN currencies such as the Malaysian Ringgit, Indonesian Rupiah, and the Thai Baht opened about 0.3 percent higher against the Greenback.

Asian currencies should enjoy some relief over the near-term as the prospects of a Fed rate cut are now… Read More:

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