ForexLive Asia FX news wrap: Yen a little weaker

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Friday 14 May 2021

Yen weakened a little during the session here today with USD/JPY as high as circa 109.65 before stabilising. The Japanese government announced it would be declaring a state of emergency in another 3 prefectures (see bullets above), which came as a surprise although some tightening of restrictions was expected. There was little other news from Japan, apart from a M6 earthquake offshore from Fukushima that was not accompanied by a tsunami alert, thankfully.

Other major FX rates were little net changed on the session with only minor scale ranges.

Crypto was once again in the spotlight, although the glare was not as harsh as Thursday. DOGE benefitted from news Coinbase will list the coin in the weeks ahead, and also from a tweet from Elon Musk saying developments on it look 'potentially promising' (see bullets above).

Noting also comments from Atlanta Fed President Bullard saying the Fed will make a judgement call on whether inflation is indeed transitory - this sounds like a bit of a concession from Bullard that the Fed's insistence up to now that inflation is transitory may be up for questioning.

China commodities fell today; steel, iron ore were both off heavily. Oil, too, lower on the session. 

Regional equities took their cue from a green Wall Street on Thursday:

  • Japan's Nikkei +1.8%, Topix 1.6%

  • China's Shanghai Composite +0.9%

  • Hong Kong's Hang Seng +0.6%

  • Australia's S&P/ASX 200 +0.7%

Forex news for Asia trading onFriday14May 2021

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