Asia FX: tech-driven risk-off weighs before NFP, says MUFG
FROM THE WIRE · FXSTREET.COM
MUFG analysts Khang Sek Lee and Lin Li note that the recent tech-led equity selloff has undermined Asia FX, offsetting support from lower Oil prices and US yields. Safe-haven demand has lifted the Dollar and Japanese Yen, while upcoming US Nonfarm Payrolls data could reinforce…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe tech selloff and safe-haven demand weigh on tech-sensitive Asian currencies.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01MUFG notes the tech selloff has undermined Asia FX.
- 02The dollar and Japanese yen gained on safe-haven demand.
- 03Upcoming NFP data could reinforce expectations of further Fed tightening.