Asian currencies consolidate against the dollar early, but could gain from reduced Fed rate‑hike prospects. Matt Simpson of Stone X notes that after the weak U.S. nonfarm payrolls report, expectations for a September Fed increase fell. Fed fund futures now imply a 57% chance of no rate change in September, up from a 54% chance of a hike before the report.

In market data, the U.S. dollar holds steady at 1,407.80 won and is little changed at 6.7432 offshore yuan. The Australian dollar slipped 0.1% to US$0.7061, according to LSEG.

The shift in Fed expectations may provide support for regional currencies as traders reassess policy outlook, while the modest dollar stability suggests limited volatility in the near term.