Asia FX muted with dollar weak ahead of nonfarm payrolls; INR hits record low

The Asian FX market remains quiet as the dollar shows weakness, highlighted by the Indian Rupee (INR) hitting a record low. Market participants are on edge with the upcoming non-farm payrolls report. The weaker dollar trend has made Asian currencies vulnerable. As the payroll data approaches, FX trading shows signs of caution, particularly as a stronger-than-expected jobs report could bolster the dollar and lead to short-term volatility. Investors are particularly focused on how this data might influence future interest rate decisions. Thus, attention is on whether the INR will establish a new support level or continue to decline further. The entire Asian market remains sensitive to U.S. economic indicators, making this jobs report crucial for upcoming trading dynamics.