Asia FX rises ahead of nonfarm payrolls; yen firms amid intervention watch
Investing.com-- Most Asian currencies advanced slightly on Friday, recovering further as the dollar weakened ahead of key payrolls data, while the Japanese yen strengthened sharply amid speculation over potential government intervention.sank to three-week lows in holiday-thinned trade, while growing expectations of interest rate cuts also dented the greenback.
Recent weakness in the yen was spurred by growing bets that the Bank of Japan will have limited headroom to tighten policy further, amid persistent weakness in the Japanese economy.Sentiment towards China was further dented by reports that Beijing seized a Taiwanese fish trawler, and had also deployed aircraft around the Taiwan strait.
The reports came following an earlier report that Taiwanese firms were withdrawing their staff from China, after Beijing outlined strict punishments for proponents of an independent Taiwan.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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