ForexLive Asia FX news wrap: Bitcoin gave $50K a nudge again in Asia time

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Wednesday 17 February 2021 

The USD added on more gains in early Tokyo trade with momentum carrying on from its surge during US hours. EUR, AUD, GBP, NZD, CAD, yen and CHF all fell against the dollar, although none of the moves were large. There was no fresh news crossing to catalyse the move, it was carry-through momentum. There have been subsequent retracements to varying extents. On Tuesday Asia ignored rising US yields but overnight moves, and early here, did a catch-up. EUR/USD is having a hard time showing much of a bounce and looks to have further room to fall on the rising yields.

On the data front it was another show of some improvement for the Japanese economy (see bullets above) although with the fresh state of emergency in January there is a challenge ahead. USD/JPY got as high as just over 106.20 but has since slipped back under the figure.

As a heads up China is back on Thursday (local time). There was continued unwinding of the strong offshore yuan trade ahead of the first People's Bank of China onshore yuan fixing for about a week tomorrow.

Forex news for Asia tradingfor Wednesday17February 2021 

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