ForexLive Asia FX news wrap: BTC drop on the weekend, some retrace since

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Monday 7 June 2021

There was plenty of news to drive BTC over the weekend resulting in a dip to under US$35K at one stage and a recovery since to highs back around $37.5K as I update (see bullets above for details).

Across the forex space it was much quieter here for the week's opening session. US Treasury Secretary Yellen was in the news, speaking after the G7 she said she'd welcome higher interest rates, they'd be indicating recovery for the economy and also said infrastructure spending would continue even if inflation gained (see bullets above), arguing that such spending is not stimulus per se but investment for the future.

Cable was the mover for FX, down 30 or so points off its session high as I post. CAD lost ground also.

The  People's Bank of China set the mid-rate slightly stronger for CNY than expected today. 

Oil (WTI futures) test US$70 for the first time since October 2018.

Forexnews for Asia trading onMonday7June 2021

Still awaiting China's trade balance data (May).

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