The US dollar was in a weakened position against Asian currencies on Thursday. This came in response to global economic data that was less robust than anticipated, which created uncertainty around the future direction of interest rates and led to a decline in US yields. These developments occurred in anticipation of the Federal Reserve's Jackson Hole symposium.
The Australian dollar (AUDUSD), which had been under pressure due to concerns about China's economic slowdown and the persistent strength of the US dollar, saw a notable 0.9% surge on Wednesday. This surge followed disappointing results for US manufacturing and services Purchasing Managers' Index (PMI) figures, which fell short of expectations.