Home / News / World /  ‘Worst likely over’ for emerging Asia currencies as Fed hike bets ease
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Asia emerging market currencies jump from the open after slower-than-expected US inflation data eased pressure on the Federal Reserve to raise interest rates aggressively.

South Korea’s won led gains, rising as much as 1%, while the Malaysia ringgit advanced 0.4%. The rally came after the Bloomberg Dollar Spot Index slid 1% following the release of the US data on Wednesday. The offshore Chinese yuan appreciated 0.5% on Wednesday as it trades during US hours.

The US consumer price index rose 8.5% from a year earlier, slower than the 9.1% June advance that was the largest in four decades, the Labor Department said.

This story has been published from a wire agency feed without modifications to the text.

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