Forex trading headlines for Asia Wednesday 24 September 2014


Some minor wiggles in the currencies today in Asia, with USD/JPY and yen crosses the stand-outs (in a lacklustre field).

Japanese PM Abe spoke with reporters earlier, talking up the yen a little (see bullets, above), seeing USD/JPY drop 35 or so points quite quickly (and off 50 or so from the overnight high). Yen crosses, of course, followed suit, as other currencies were largely stable against the USD 9with some nuances, see below). USD/JPY rebounded smartly from it session lows, recovering not quite all of its Abe-inspired drop before turning down slightly again.

EUR, GBP, CHF all gaines slightly against the USD on the session. CAD had a wiggle but finishes basically the same as it was when i walked in this morning.

NZD/USD dipped on the Fonterra downgrade to the milk payout forecast, but bounced from 0.8040 to just above 0.8080 for the session high. The trade balance came in better than expected (see bullets, above for both these stories) .

AUD/USD moved higher mid-morning in Sydney, lost all of its early gain and then has since put it all back on again. It sounds exciting but this all within around a 20 point range.