US Dollar Rose Versus Major Asian Currencies
Most Asian currencies fell today, after mixed US employment data, published late last week, could not overshadow the prospect of an increase in the Federal Reserve's rate in December. The decline in Asian currencies was also caused by weakness in equity markets in the region.
The US dollar rose to its highest level in almost eight months against the Japanese yen after the Bank of Japan said it will continue with powerful monetary easing under its yield curve control policy.
The US employment report, which was published on Friday, showed a slowdown in wage growth and a smaller than expected increase in the number of jobs in the non-farm sector in October. But still, analysts expect another increase in the Fed's interest rate at the end of the year.