The dollar fell against Asian currencies on Thursday, after the Federal Reserve softened its language about future interest rate increases and the central bank instituted its latest 0.25 percentage point rise.
The Japanese yen, the South Korean won and China’s renminbi each added 0.4 per cent to trade at ¥130.87, Won1291.80 and Rmb6.8553 per dollar, respectively.
In a statement accompanying the rate rise, the Fed omitted previous references to a need for “ongoing” rate increases to combat inflation, raising expectations that the central bank’s tightening cycle might be nearing its conclusion.
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