Asian shares mostly fell on Thursday tracking US losses ahead of the release of crucial inflation data later in the day that will help chart the Fed s rate cut timeline.
The Japanese Yen (JPY) catches fresh bids during the Asian session on Thursday and rallies back closer to the top end of the weekly range against its American counterpart, though any further appreciating move still seems elusive.
Asian shares mostly fell on Thursday tracking US losses ahead of the release of crucial inflation data later in the day that will help chart the Fed's rate cut timeline.Expectations for cuts to US interest rates have shifted to later this year, as recent inflation data has come in hot and Fed policymakers have taken a wait-and-see attitude, calling for more time and data showing that inflation is moving towards their two percent goal.
USD/CAD continues its winning streak, marking the fifth consecutive session with gains, as it edges higher around 1.3580 during the Asian session on Thursday.