Asian Currencies Consolidate; Rising Oil Prices May Weigh

Dow Jones
08/18

0051 GMT - Asian currencies consolidate against the dollar in early trade, but may be weighed down by rising crude oil prices that typically lead to higher inflation and hurt economic growth. This week began as a "risk-off" session, UOB's Global Economics & Markets Research team says, noting Wall Street's selloff on Monday that was driven by renewed Middle East tensions. Brent crude oil rose to settle near $91.00 per barrel overnight, which stoked fresh inflation worries, the team adds. The U.S. dollar is little changed at 159.49 yen and is flat at 33.03 baht, according to LSEG data.

 

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