ForexLive Asia FX news wrap: September 11

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Monday September 11, 2017

Morning on September 11 2001 - World Trade Center




Yen crosses opened higher in very early trade here in Asian Monday morning, with USD/JPY up around 50 or so points from its late Friday US level. There had been heightened concerns over a North Korean missile test on the weekend, a test which did not eventuate. I'm pointing a finger at the 'dog that did not bark' as one of the main factors for a lower yen into the new week.

USD/JPY did not 'fill the gap', finding buyers around 108.15 and trading higher towards 108.50.

USD/CHF ticked steadily higher for much of the session also, to above 0.9500 at one stage and is now a little under there. (ps. - there is a Swiss National Bank meeting later this week.Oh, and Bank of England also. Both are on Thursday.)

EUR/USD slipped a little, down towards 1.2000 and is small above there as I update. AUD and NZD also have net lost some ground against the USD and have had small ranges.

China was in the news late last week and over the weekend:

  • New policy from the People's Bank of China
  • Inflation data over the weekend

(see bullets above for more on these)

The People's Bank of China dropped the USD/CNY reference rate again today but the yuan dropped back against the USD to trade down a little after the onshore market open.

Regional equities:

  • Nikkei +1.46%
  • Shanghai +0.13%
  • HK +0.95%
  • ASX +1.05%
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