Forex news for Asia trading Friday 15 December 2017

The fall in the EUR/USD was retraced just a little during the session here in Asia today. The initial move early was down to a fresh low (this was in the early Tokyo morning) to circa 1.1765 followed by a slow grind to around 1.1790 before a sideways shuffle in a tiny range as i update.

There was little in the way of fresh news for the EUR here today.

USD/JPY traded from highs around 112.40-odd towards 112.10. The BOJ Q4 Tankan showed decent results (an 11 year high in large manufacturers sentiment for example) ... more in the posts above.

The results have to raise the issue of why the BOJ continues to be so pedal to the metal on easing, but the answer (so far) is they are way off their inflation target os they keep on keeping on. As I said earlier, something's gotta give. Dunno what that might be though.

After the fall for the USD/JPY it had a sharp spike, here's the pic:

And the story:

Other currencies - it was a slowish sort of day but NZD/USD has managed to perfom OK, up 30+ points from its earlier low. The NZ fin min was reported as saying he was happy with the level of the NZD. Those looking for further falls will be disappointed the rhetoric from the new government is not more bearish.