Asian currencies consolidate on light holiday trading volume

During the Spring Festival holiday with light trading in most regions, Asian currencies against the US dollar were consolidating. However, the risk appetite sentiment boosted by the easing of tensions between the US and Iran may provide support for regional currencies. Rodrigo Catril of the National Australia Bank mentioned in a commentary that there were reports of a "general agreement" reached between Iran and the US, which would form the basis of a nuclear agreement. The senior foreign exchange strategist added that tensions in the Middle East are expected to cool down. Data from FactSet showed the US dollar rising 0.2% against the Japanese yen to 153.60 yen; the US dollar against the South Korean won remained basically unchanged at 1,444.67 won; and the Australian dollar fell 0.2% against the US dollar to 0.7070 US dollars.