Asian Currencies Steady Ahead of U.S. Non-Farm Payroll Report

Asian currencies remained stable against the U.S. dollar during early trading hours as markets awaited the release of the U.S. non-farm payroll report later today. According to Jin10, Carol Kong from CBA expressed in a research report that the trend of non-farm employment figures falling short of expectations is likely to continue, which could put pressure on the dollar. The economist and foreign exchange strategist highlighted that further weakening in the U.S. labor market, coupled with easing inflation pressures, might 'encourage' the Federal Reserve to implement two more interest rate cuts this year.