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Asian FX rise as Yellen's unhurried tightening stance dents dollar

Reuters 

By Susan Mathew(Reuters) - Asian currencies were higher on Thursday as the dollar took a knock after Federal Reserve Chair Janet Yellen signalled further rate increases in the United States will be gradual at best.The dollar index, which measures the U.S. currency against six major rivals, was down 0.2 percent to 95.609 at 0506 GMT. Yellen said on Wednesday the U.S. economy is healthy enough for the Fed to raise rates, though low inflation and a low neutral rate may leave the central bank with diminished leeway. "Some may argue that her remarks overnight were dovish, but we argue that they ...

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First Published: Thu, July 13 2017. 11:30 IST
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