Forex news for Asia trading Thursday 14 December 2017

he People's Bank of China edged rates on their MLF funds issued today by 5 basis points, and on 7 & 28 day reverse repos by 5 bps also. Talk about baby steps.

The other news item of note was the huge jump in Australian employment (November), coming in 3x the median consensus expectation (+61K vs. +19K expected), further details at the post (see bullets above).

The Australian dollar was a (relatively) big mover on the session, up 50 or so points ... actually nah, not even that much: from circa 0.7630 prior to the data to a high around 0.7675 where it halted and has since wobbled more or less sideways. The general perception out there is that yes, good data, but such a pace of gains is unlikely to be sustained and wage growth is lacklustre anyway. Tough crowd, eh?

NZD/USD and USD/CAD have both done little during the session.

USD/JPY had a further late slither lower in the US afternoon/very early Asia before recovering just a few points to top ahead of 112.80. EUR/USD managed to tic up a few extra points in the Asian morning to above 1.1840 and is just off there as I update.

Cable too, a little higher for the session, adding another 20 or so points to its NY time high. USD/CHF is little changed.

Stay tuned for central bank's galore during Europe/UK time: