Asian currencies consolidate as U.S. debt tops $40 trillion

Asian currencies were largely steady against the U.S. dollar at 0126 GMT as concerns over U.S. national debt supported regional currencies. U.S. government debt exceeded $40 trillion for the first time. CBA Global Economic & Markets Research said debt-sustainability concerns could weigh on the dollar this week, while U.S. Treasury Secretary Bessent raised expectations that a budget consolidation program would be released this week. The bank said a modest consolidation could disappoint market participants and weaken the dollar. The dollar was little changed at 158.87 yen and flat at 1.2693 Singapore dollars, while the Australian dollar held steady at US$0.7168, according to LSEG data.

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Asian currencies consolidate as U.S. debt tops $40 trillion - CoinPost Terminal