Asian Currencies Consolidate Ahead of U.S. Economic Data

Asian currencies are stabilizing against the USD in the morning session, as traders await the release of U.S. October CPI data later today and retail sales data on Wednesday. According to a research report from SMBC’s Global Markets and Treasury Dept., if the figures turn out to be weaker than expected, it could result in a weaker USD and increase demand for Asian currencies. SMBC also points out that various indicators in the U.S. have already indicated a slowdown in the country’s economic growth. As for specific currency pairs, USD/KRW has risen by 0.3% to 1,323.57, AUD/USD remains largely unchanged at 0.6376, and USD/JPY is steady at 151.75.