ForexLive Asia FX news wrap: Yen and EUR move higher

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Tuesday 18 June 2019

An interesting session here ins Asia with stronger moves for yen, CHF and EUR while weaker for GBP, AUD and CAD.

The weak moves were easier to pin a catalyst upon than the stronger moves.

For example, GBP took a bit of a tumble as new hit that UK Chancellor of the Exchequer Phillip Hammond was prepared to resign over UK PM May's education budget boost (an extra 27bn GBP). Hammond wants to keep the cash in a 'war chest' for when (OK, if) the incoming bunch of plonkers manage to crash out of the EU without a deal, not spend it on educating children. GBP had fallen heavily for the US session Om Monday, a small extension lower here today on this.

The Australian dollar took its cue to dive from the release of the RBA minutes for June. The RBA indicated the next move was more likely lower for rates. As if we didn't know this? AUD/USD fell to circa 0.6840.

AUD/JPY had a bigger fall as around the same time yen saw some inflows, taking USD/JPY from 108.55 to under 108.35. Its since dropped just a few tics further. 

Forex news for Asia trading Tuesday 18 June 2019

EUR/USD has had a more or less steady move up, albeit not large. Its been unable to hit 1.1235 although it not far off as I update.

Still to come:

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