Asian Currencies Consolidate, but Haven Demand for Dollar May Weigh
Dow Jones
7 hours ago
2353 GMT - Asian currencies consolidate against the dollar in early trade, but may be weighed by safe-haven demand for the greenback. "Higher oil prices and weaker global equities supported the USD," CBA's Kristina Clifton says in a research report. "The USD has been trading like a safe haven during the Middle East conflict," says the senior economist and senior currency strategist. Also, higher oil prices increase risks of "higher global inflation and slower global economic growth, a headwind for the risk-sensitive AUD/USD," Clifton adds. The Australian dollar edges 0.1% higher to US$0.7158, while the U.S. dollar is 0.1% higher at 154.54 yen, according to LSEG data.
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