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Asian currencies fluctuate as dollar rises
The markets experienced a mixed start for Asian currencies as the US dollar rose close to its highest level in 18 months, while the euro fell to a 17-month low, buoyed by rising US Treasury yields. The dollar index remained stable around 102.11 after reaching a high of 102.21. Meanwhile, the EUR/USD pair declined to 1.123, and the British pound increased to 1.3224. Despite weak US employment data, the dollar continued to strengthen due to rising bond yields, with expectations of ongoing inflationary pressures. Inflation is likely to remain high until next year, hindering the Federal Reserve's ability to ease monetary policy.
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