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ForexLive Asia FX news wrap: AUD the laggard

Forex news for Asia trading Thursday 12 May 2016

Yen, NZD and AUD all movers today (not huge, but notable nonetheless).

The current account surplus for Japan was announced - it came in at its highest since March of 2007 (lower oil costs contributing). Persistent surpluses on this measure underpin the role of the yen as a 'safe haven'.

USD/JPY was a little weaker earlier in the session, but after dipping to around 108.25 it moved higher, Japanese banks cited as substantial buyers. And its near session highs around 108.60 as i update.

AUD was a big loser, nearly one-way traffic to around 0.7330 before some stability crept back in. Cross sellers cited.

NZD/USD moved a little higher but more or less steady net-net on the session (up a few points maybe). NZD buyers against the AUD helping it along.

EUR, CHF, GBP all quiet in small ranges.

Gold fell after some early modest gains, but its only down around 5 or so dollars, so not much in it. Oil is little net changed.

Regional equities:

  • Nikkei -0.17%
  • Shanghai -0.29%
  • HK -0.42%
  • ASX -0.47% (Westpac ex-dividedn today didn't help the index)

Still to come:BOE Preview:Traders start to eye its latest inflation report and interest rate decision

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.

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