Turkey was also tipped to reverse course from years of unconventional economics promoted by President Recep Tayyip Erdogan and dramatically raise interest rates to fight soaring inflation and steady the troubled lira.
Traders say there is a 75 percent probability officials will hike by 25 basis points at their July meeting, according to data from CME Group.“The Fed is clearly not nearing the end of its tightening cycle and if other central banks seem poised to deliver more than a couple rate hikes, that might make it easier for the Fed to remain aggressive with tightening,” said OANDA’s Edward Moya.
Tokyo, Sydney, Singapore, Manila, Wellington, Mumbai, Wellington, Bangkok and Jakarta were all in the red, though Seoul eked out a gain.Hong Kong and Shanghai were closed.