© Reuters.
Investing.com– Most Asian currencies moved little on Thursday as disappointing inflation data from China weighed on sentiment, while weakness in the Japanese yen saw traders on edge over any government intervention.
The dollar was steady in Asian trade, sticking to a recent rebound as Federal Reserve officials continued to offer hawkish signals on interest rates. This notion also kept Asian currencies under pressure.
The and both moved little on Thursday, with focus remaining on any more Fed signals, particularly from a talk by later in the day.
China back in disinflation, yuan flat
But more signs of economic strife in China were the biggest weight on Asian markets, as government data showed that both and inflation shrank in October.
The readings showed that China entered disinflation for the second time this year, as repeated stimulus measures from Beijing failed to meaningfully prop up spending.
The was flat, benefiting from several strong daily midpoint fixes from the People’s Bank of China this week. But the outlook for the currency remained dour, especially in the face of prolonged economic weakness in China.
While the PBOC is now…
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