On Thursday, most Asian currencies strengthened, while the dollar sharply fell after mixed signals from the US Federal Reserve raised expectations that the central bank would not further increase interest rates.
The Australian dollar was among the best performers of the day, rising by 0.7% and outperforming weaker-than-expected trade data.
Market confidence grew that the Reserve Bank of Australia would raise interest rates at next week's meeting, bringing them closer to US levels and making the Australian dollar more attractive.
The Japanese yen surged by 0.5%, sharply recovering from a one-year low as government officials continue to threaten intervention in the currency market. However, the yen still remains above the 150 level per dollar, suffering significant losses this week after the Bank of Japan's "dovish" signals.
The Australian dollar was among the best performers of the day, rising by 0.7% and outperforming weaker-than-expected trade data.
Market confidence grew that the Reserve Bank of Australia would raise interest rates at next week's meeting, bringing them closer to US levels and making the Australian dollar more attractive.
The Japanese yen surged by 0.5%, sharply recovering from a one-year low as government officials continue to threaten intervention in the currency market. However, the yen still remains above the 150 level per dollar, suffering significant losses this week after the Bank of Japan's "dovish" signals.