ForexLive Asia FX news wrap: Yen crosses surge, Hang Seng up >3%

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Tuesday 19 January 2021

Monday was a holiday in the US and FX remained subdued, the very early hours of Asia followed suit. As Tokyo became active though the USD began to show some weakness with currencies gaining except for yen. USD/JPY has subsequently rallied to highs over 104 while EUR, AUD, NZD, CAD and GBP all gained against the dollar. The net result has been a strong session for yen crosses. There is no obvious immediate catalyst or catalysts, some are attributing the dollar weakness (except against the yen) to Yellen's upcoming testimony on Tuesday (US time).

Meanwhile regional stock markets have, broadly, also surged on the day. As I post Hong Kong's Hang Seng index is up over 2.4%, supported (it is said) by China flows and, more objectively, 19 consecutive days of inbound (to HK) flows from the Shanghai-HK Stock Connect, 2 days showing the largest net flow to HK on record.

US equity indexes futures traded higher on Globex (which reopened after its Monday holiday).

HK skyrocketed:

Forex news for Asia tradingfor Tuesday19January 2021

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