ForexLive Asia FX news wrap: USD/JPY up a little on the session

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 26 February 2020 

USD/JPY ticked back to above 110.50 during the session (its just under as I post) with coronavirus developments in Asia yet again the focus. Regional equities were yet again heavy following Tuesday's continued rout in the US. Cases continue to drive higher in South Korea, with harsher containment steps being taken. Japan, too, is taking further steps to limit the spread. An IOC official raised the prospect of cancelling the Tokyo Olympics (due to begin in late July).

Apart from the coronavirus news we had GDP-input data from Australia. Q4 construction data was a big miss (see bullets above) and is indicative of a weaker than expected economy even prior to what will be an even worse quarter in Q1. AUD/USD tracked a narrow range, as did NZD/USD.  

Narrow ranges also elsewhere.

The Nikkei 225 bounced from its early session low, but does not look healthy at all.

Nikkei  chart

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