Most Asian currencies gained on Thursday, while the dollar fell sharply after mixed signals from the U.S. Federal Reserve raised bets the central bank will not raise interest rates further.
The Australian dollar was among the day's best performers, up 0.7%, beating weaker-than-expected trade data.
The market grew confident that the Reserve Bank of Australia will raise interest rates at its meeting next week, bringing them closer to U.S. levels and making the Australian dollar more attractive.
The Japanese yen jumped 0.5%, recovering sharply from a one-year low as policymakers continued to threaten to intervene in the currency market. However, the yen remains above 150 per dollar, having suffered significant losses this week after dovish signals from the Bank of Japan.
The Australian dollar was among the day's best performers, up 0.7%, beating weaker-than-expected trade data.
The market grew confident that the Reserve Bank of Australia will raise interest rates at its meeting next week, bringing them closer to U.S. levels and making the Australian dollar more attractive.
The Japanese yen jumped 0.5%, recovering sharply from a one-year low as policymakers continued to threaten to intervene in the currency market. However, the yen remains above 150 per dollar, having suffered significant losses this week after dovish signals from the Bank of Japan.