Asian Currencies Consolidate Ahead of Fed Warsh's Speech
Dow Jones
Aug 28
0019 GMT - Asian currencies consolidate against the dollar ahead of Fed Chairman Warsh's speech at Jackson Hole later today. Warsh is unlikely to "discuss what the FOMC may decide at its next policy meeting in September given his strong aversion to forward guidance," CBA's Kristina Clifton says in a note. "Warsh will probably talk tough about reining in inflation," the senior economist and senior currency strategist says. "But there is a risk his comments are deemed not strong enough on tackling inflation, which pulls the USD down," Clifton adds. The U.S. dollar is little changed at 159.34 yen, but is 0.1% lower at 1,380.60 won, while the Australian dollar is steady at US$0.7195, LSEG data show.
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