SYDNEY: Most Asian currencies were tepid on Wednesday, with the Philippine peso falling most, as investors await the conclusion of the Federal Reserve’s (Fed) policy meeting for clarity on the future United States rate path.
The Philippine peso was on track to snap its five-day gaining streak, falling 0.4%, while the Thai baht remained flat.
Traders globally are now focussed on whether the US central bank will keep to its hawkish path to fight soaring inflation or pause interest rate hikes given recent trouble among banks which has included bankruptcy and last-minute rescues.
Markets are pricing in about a 14% chance…
