Asian currencies steady as major meetings in focus

HONG KONG: Most Asian currencies held steady on Tuesday as investors waited cautiously for key central bank meetings to determine the rates outlook for next year, while Singapore’s dollar firmed on reports policymakers would act on growing inflation risks.

The Reserve Bank of Australia left its cash rate at a record low of 0.1%, but dropped both a commitment to keeping bond yields low and its projection of no hike in interest rates until 2024 as inflation crept up in the country.