ForexLive Asia-Pacific FX news wrap: USD weakness continues | Forexlive


Australia – iron ore transport – train drivers to take industrial actionReserve Bank of Australia Governor Bullock is speaking on Tuesday, Sydney timeUSD weakening further in Asia trade, USD/JPY towards 149.00Bank of America forecasts higher for longer Fed Funds rates, sees upside risksGBP traders heads-up: Bank of England Governor Andrew Bailey to speak on MondayInvestors not prepared for 2024: surprising contrarian trades revealedOffshore yuan (CNH) jumps higher after strong setting for onshore yuan (CNY)PBOC sets USD/ CNY reference rate for today at 7.1612 (vs. estimate at 7.2320)PBOC Loan Prime Rates (LPR) remain unchanged at today’s rate setting, as expectedJapan finance minister Suzuki says once-in-a-lifetime chance to beat deflationPimco makes bold yen buying move, forecasting Bank of Japan monetary tighteningBitcoin surges as Javier Milei triumphs in Argentina’s Presidential ElectionMilei wins Argentina’s presidential election, Massa concedesBarclays analysts report that US tech stocks are currently trading at significant premiumPeople’s Bank of China sets its Loan Prime Rates today, expectations are for unchangedMoody’s upgrades Portugal and affirms Italy’s RatingsIran-backed terrorists seize ship in Red SeaTrade ideas thread – Monday, 20 November 2023Is OPEC+ considering output cuts? White House adviser says Arab states won’t weaponize oilMonday morning open. Start your week with a look at indicative forex prices: 20 Nov 2023Argentina heads to the polls today and the existance of the currency is at stakeUK Conservatives eye tax cuts in budgetWeekly Market Outlook (20-24 November)Newsquawk Week Ahead: PBoC LPR, Minutes from FOMC, ECB & RBA, Japanese CPISam Altman forced out as OpenAI CEOForexlive Americas FX news wrap: The yen rebound continues as the US dollar sags

The
USD declined further in Asia-Pacific trade on Monday amidst a light
news session.

All
major FX is higher against the dollar, including the JPY. USD/JPY
traded higher initially, to around 150.00 before dropping a big
figure. Its just below 149.00 as I post.

News
flow for the majors was light. From Argentina we had the news that
Javier Milei won the Presidential Election. One of his key economic
policies is to replace the peso as the local currency with the USD.
Bitcoin jumped on the news, the back-fitted (naturally) narratives I
heard to explain this was because Milei loves freedom. Or something.

From
the People’s Bank of China today were the Loan Prime Rate (LPR)
settings. Both one- and five-year remained unchanged. The Bank also
made a significant change to the reference rate for USD/CNY, its
biggest drop since September 12 to its lowest (i.e. strongest for the
yuan) since August 11.AUD caught an extra bid from the better yuan, AUD/USD hitting a 3-month high. NZD/USD hit a 1-month high.



This article was originally published by a www.forexlive.com . Read the Original article here. .