ForexLive Asia FX news wrap: Yen crosses rise further

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Monday 11 October 2021

Rising oil prices and falling yen were the main themes again here during Asia to open the week.

AUD and GBP were notable risers but NZD, CAD and EUR also showed strength. USD/JPY is above 112.50 as I post.

There was a decent flow of news over the weekend and during the session (see bullets above) in brief:

  • Lebanon saw a 24 power outage
  • Continuing rain in northern China caused widespread flooding and landslides and subsequent deaths, injuries and damage - 60 coal mines have suspended operation
  • two officials from the Bank of England Monetary Policy Committee, including Governor Bailey himself, hinted at UK rate rises
  • there was further promising news of the US and China talking on trade issues

The People's Bank of China set the onshore yuan stronger again today and further drained funds from the banking system (see bullets above).

Reminder:

Forex news for Asia trading onMonday11October 2021


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