Most Asian currencies strengthened against the dollar in early Asian trading, boosted by US President-elect Trump's nomination of Scott Bessant as Treasury Secretary.
"Bessant is reportedly biased towards a weaker dollar and supports a 'shadow' chairman strategy for the US Federal Open Market Committee (FOMC)," four members of Commonwealth Bank of Australia (CBA) Global Economics and Market Research said in a report.
Meanwhile, the FOMC minutes to be released this week may reveal discussions on the extent of the federal funds rate cut and views on US core inflation. (Jinshi)