Forexlive Asia FX News 8 Jan

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading for Friday 8 January 2021

The USD added a little strength during Asian morning trade, but the ranges were not large. Currencies dropped away a little pretty much across the board but then retraced some of their losses. 

It is difficult to pinpoint any obvious catalyst or catalysts beyond the 'usual suspects' - US yields driving some flow to the dollar, coronavirus developments are not entirely positive. US politics continued to play out, reports of a police death from an assault in the insurrection (the death was later denied), another Trump Cabinet member resigned. Trump posted a Twitter video (his suspension has expired) in which he conceded there would be a new administration inaugurated on January 20 and berating his supporters from behaving in the way they did.

Australia saw restrictions tightened again for some areas. The UK strain has been detected in Queensland capital Brisbane and the city will go into a 3-day lockdown. 

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