Forex news for Asia trading
USD added on more gains in early Tokyo trade with momentum carrying
on from its surge during US hours. EUR,
AUD, GBP, NZD, CAD, yen and CHF all fell against the dollar, although
none of the moves were large. There was no fresh news crossing to
catalyse the move, it was carry-through momentum. There
have been subsequent retracements to varying extents. On
Tuesday Asia ignored rising US yields but overnight moves, and early
here, did a catch-up. EUR/USD is having a hard time showing much of a
bounce and looks to have further room to fall on the rising yields.
the data front it was another show of some improvement for the
Japanese economy (see bullets above) although with the fresh state of
emergency in January there is a challenge ahead. USD/JPY got as high
as just over 106.20 but has since slipped back under the figure.
a heads up China is back on Thursday (local time). There was continued unwinding of the strong offshore yuan trade ahead of the first
People’s Bank of China onshore yuan fixing for about a week