ForexLive Asia-Pacific FX news wrap: USD rose a touch higher in a holiday-impacted Asia |
There
were market holidays in China, Hong Kong and Singapore today. China
is out tomorrow and Friday also.
USD/JPY
was once again a focus. The US dollar added on some points almost
across the majors board although ranges were not large. USD/JPY is
above 157.90 as I am posting with traders wary of renewed
intervention from the Bank of Japan. We are heading into the Federal
Open Market Committee (FOMC) meeting later today and perhaps the best
hope for a respite for the yen is that markets are positioned for a
less dovish Fed and we see a ‘sell the (USD) fact’ response.
We’ll see.
From
New Zealand today we had the Reserve Bank of New Zealand’s
Financial Stability Report, in which the Bank notably warned that
there remains a risk that new or persistent inflation pressures could
mean global interest rates remain restrictive for longer, placing
continued pressure on households, businesses and the financial
system. Following the Report were employment data from New Zealand,
with the unemployment rate rising while employment fell. In a press
conference later, officials at the RBNZ accepted that sustained high
rates in the country are resulting in a cooler jobs market.
AUD,
NZD and CAD are all little changed against the USD. EUR, GBP and CHF
are a little lower. As is yen, already covered above.
USD/JPY tip toeing higher
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