Forex news for Asia trading on Monday 24 May 2021

Cryptocurrencies declined over the weekend with Bitcoin, for example, trading close to (but not touching) US$31K before rebounding to highs close to $36K. The renewed weakness came in the light of China yet again reiterating a 'crack down' on crypto activity back on Friday.

Also from China were further comments re tightening supervision of industrial commodity futures markets which sent iron ore (for example) down near 10% (other futures contracts declined also).

More on all this in the bullets above.

Across major FX the ranges have not been large. The Australian dollar was off a touch on the China commodity market supervision news (ps. its not new news per se, its more of the same of what we were getting last week). Elsewhere across the major currencies against the dollar its hardly worth mentioning the moves, they have been minor only.

Talks in Vienna (US/Iran) seem to be still on track, weekend news that nuclear observation of Iran had halted was wound back by Iran indicating it was preparing to extend access (see bullets above).

Gold was a little better bid but is off its Monday highs:

Forex news for Asia trading onMonday24May 2021