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Asian currencies consolidate, potentially weakening under the influence of risk aversion.
According to Jin Shi Data on March 21, Asian currencies against the US dollar consolidated in the Asian morning session, but may weaken due to risk aversion triggered by the overnight decline in European and US stock markets. Rodrigo Catril, a senior forex strategist at the National Australia Bank, stated in a commentary that market sentiment is weak against the backdrop of uncertainty in trade policies, and the US dollar benefits from safe-haven buying. Catril noted that the US priority investment policy report to be released on April 2 remains a "huge cloud", limiting risk appetite.