ForexLive Asia FX news wrap: Plenty on the agenda ahead in UK, Europe, US

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 13 September, 2017

Excuse the 'looking ahead' title to the wrap, but there was little to commend the Asian action today. Ranges were small in currencies, but at least there was some direction in the small moves.

Namely, a net weaker USD pretty much across the board. Against the USD EUR, CHF, GBP, yen, CAD, AUD all higher net for the session. NZD was a lagger.

NZD/USD fell early, dropping back toward 0.7250 (not quite getting there) after its poll-inspired rally during the London morning on Tuesday. There was little fresh new of significance about, but some stop loss selling under 0.7275 gave it the nudge a few points to the worse. Itds since come back to circa 0.7290.

Across the ditch, AUD/USD has net added a few points during the session, We got some data - a slight improve for consumer sentiment (still looking weak, though)  - and we also got a revision in their Reserve Bank of Australia call from one of Australia's 'big four' banks; National Australia Bank revising their call to expect the next move from the RBA to be a series of hikes, albeit not until beginning in August of next year.

USD weakness was expressed also with higher EUR/USD, a few points up on the session. Cable, also, has gained, doing a better job of it too, up around 30+ points from early levels here.

USD/JPY moved above 110.20 again in early Tokyo but has since slid back towards the figure.

The People's Bank of China weakened the CNY against the USD at the mid-rate setting today after its huge up run in recent weeks. The Bank also injected funds into money markets today, although after maturities its a wash. Overnight and one-week borrowing rates for yuan in Hong Kong have risen quite sharply today, indicating at least some stress in demand for funds,

Still to come:

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