Asia FX tepid after Fed cut; Aussie falls on weak jobs data, rupee near record low

Following the Fed's rate cut, the Asian FX market displays little movement overall. The Australian dollar (AUD) has dropped on disappointing employment data, with employment numbers declining month-over-month and rising unemployment rates adding to concerns about the labor market's strength. This harsh labor market scenario is expected to affect market sentiment concerning Australia's monetary policy. Additionally, the Indian rupee (INR) is approaching record lows due to generally disappointing economic indicators from India, increasing downward pressure on the rupee. These trends imply a stronger risk-averse sentiment, particularly impacting forecasts for emerging market currencies. Overall, the market's tepid condition persists, with investors closely watching upcoming economic data releases. The influence of the Fed's policy changes will need to be monitored closely.