Forex news for Asia trading Tuesday 21 May 2019

The Australian dollar moved higher in the Australian morning with the Australian prudential regulator (APRA) loosening mortgage lending restrictions, which is expected to give the beleaguered property market some boost. AUD/USD popped toward 0.6930 before settling sideways and then drifting a little back.

Later in the Australian morning we got Minutes from the RBA May meeting that read dovish, sending the AUD back down a few points. It sat circa 0.6910/15 until Governor Lowe gave a speech in the afternoon, in which he sounded dovish indeed. It was read as being as good as locking in a June (4th) RBA rate cut. We'll see, but market pricing jumped to around 90% for the cut now. AUD has fallen under 0.6890 and is still soft as Lowe's Q&A continues... and now concludes.

Forex news for Asia trading Tuesday 21 May  2019

NZD moved with the AUD today, though in a small range and ends the session on lows circa 0.6520. Weakness also today for yen, with USD/JPY edging a little higher to around 110.25. There was little news nor data for yen as it moved back to its overnight high.

Elsewhere across FX movement was barely noticeable, 10-15 pip ranges would just about cover it. Gold is down a few dollars only while BTC is little net changed.