Forex news for Asia trading Monday 7 January 2019


A little USD weakness in Asia today, most pronounced against the yen. USD/JPY slid from early above 108.60 in early Tokyo (and highs above 108.70 pre-Tokyo) to lows under 108.10 as the Japanese morning progressed. The Nikkei opened higher (in response to US Friday stock market gains), ticked up a little and has so far retraced to be little changed.

Yen crosses are lower alongside, but the impact has been blunted somewhat by currencies generally trading stronger against the USD. USD/CAD is down to circa 1.3360 while AUD and NZD are both up just a touch. GBP, EUR and CHF are all also a little stronger against the dollar. News and data flow have been light and of low impact.

AUD traders might like to note the AiG manufacturing PMI slipping into contraction in December (see bullets above).

Still to come: