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Asian FX mixed after weak US data affirms Fed pause, stocks gain

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Most Asian currencies traded mixed on Tuesday as economic data in the U.S. pointed to sluggish growth in the country's services sector, further bolstering the case for a pause in interest rate hikes by the Federal Reserve next week. The Malaysian ringgit and Thailand's baht depreciated as much as 0.5 per

Most Asian currencies traded mixed on Tuesday as economic data in the U.S. pointed to sluggish growth in the country's services sector, further bolstering the case for a pause in interest rate hikes by the Federal Reserve next week.

The U.S. dollar was largely subdued as data disappointed to the downside. The dollar index fell to 103.96 at 0358 GMT, after climbing as high as 104.40 in the previous session. In the Philippines, annual inflation slowed for a fourth consecutive month in May as food prices continued to ease, giving the central bank room to keep benchmark interest rates steady at its next policy meeting on June 22.

 

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