Forex news for Asia trading on Friday 25 June 2021

USD/JPY was taken higher into the Tokyo fix today, with market highs falling just shy of 111.00. Since the fixing the rate has drifted a few points lower. Overall the range has been small.

EUR/USD has also seen a small move to the upside (and also a small range), trading to around 1.1945. The only two items of news of note out of Europe were: 1 the EU rejection of a summit with Putin, which had been a French/German proposal. These big two are not often defeated on issues when combined, but they did lose this one. And 2, Germany's economy minister forecast a resolution of tariff issues with the US on steel and aluminium by the end of the year.

From the US we had further ebbs and flows on the infrastructure 'deal', with Senate minority leader McConnell saying he was pessimistic on its chances.

AUD, NZD, CAD are all up small against the big dollar, as is GBP.

Data flow was non-impactful.

The PBOC again net injected funds into their banking system, further easing fears of liquidity issues going into the end of the quarter.

Bitcoin was minorly boosted from news out of El Salvador that it is to become legal tender from September 7. The country's president announced the crypto would begin circulating alongside the USD in statements back at the beginning of this month, but it seems setting a firm date for introduction was enough to help BTC along today. For BTC/USD it did not have a large range.


Forex news for Asia trading onFriday25June 2021