Asian Currencies Consolidate; Trade Tensions May Support
0029 GMT — Asian currencies consolidate against the greenback in the early morning session, and may be supported by global trade tensions. U.S. assets including the dollar have come under pressure amid renewed U.S. trade tensions with China and Europe, two members of Sucden Financial's research team say in commentary. This has been compounded by U.S. manufacturing weakness, they add. They cite data released Monday showing U.S. ISM manufacturing PMI fell to 48.5 in May. USD/KRW is steady at 1,377.07; AUD/USD is down 0.1% at 0.6489; USD/SGD is little changed at 1.2853. (ronnie.harui@wsj.com)
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