Highs and Lows Digital Stock Graph
Markets

ForexLive Asia FX news: USD/JPY pop halts at 118.20

Forex news for Asia trading Wednesday 4 January 2017

USD/JPY was the mover in Asia today, popping from under 117.60 towards 118.20 before finding some sellers to hold it. News and data flow was limited (final manufacturing PMI was a solid improvement).

EUR/USD, USD/CHF and cable are all little changed on the session.

The NZD continued soft during the session, It had drifted off in Europe on Tuesday (the dairy auction results were much weaker than expected, but the slide came ahead of this), recovered somewhat during the US morning and then lost ground again. The losses headed back to overnight lows during the Asian day but on no relevant news flow nor data. Conversely the Australian dollar has retested its overnight high (its close to this as I update); again no data nor news of note.AUD/NZD buyers (insert 'D'uh' here ;-D )

Gold is a few cents to the better on the session. Oil, ditto.

The PBOC weakened the CNY against the USD today, and again net drained funds from the money market. Yuan borrowing rates surged again in HK. China would like to support the yuan and limit capital outflow, making CNH expensive to borrow may be a short-term fix for them:

Regional equities:

  • Nikkei +2.24%
  • Shanghai +0.39%
  • HK -0.09%
  • ASX -0.03%

Still to come ... its FOMC Minutes day!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx