The USD move did not pan out as expected. Fed Chair Yellen’s sp

GBL: Upside Risk To USDAsians

FX Asia Fortnightly by Saktiandi Supaat

FX Research

The USD move did not pan out as expected. Fed Chair Yellen’s speech on Fri (3 Mar) reinforced an imminent rate hike at its Mar meeting but little else. The less-than-hawkish stance spurred USD bears into action, sending the USD lower and some of the USDAsians lower, like the USDJPY and the USDSGD. We expect some kneejerk reaction to Yellen’s speech but downside to the USDAsians should be limited. This is because we expect market to remain cautious ahead of US NFP on Fri (10 Mar) ...