ForexLive Asia FX news wrap: USD inches a little higher

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading on Thursday 8 July 2021

The US dollar strengthened against most other major currencies although ranges were not large. USD/JPY was a bot of an exception, after an early fall is more or less flat on the session as I update. Little change also for USD/CHF while GBP, AUD, NZD, CAD have all lost ground against the dollar. Gold is back under $1800. Oil has not done a lot.

Bitcoin has lost around $1K+ on the session, to lows under $32,200 at one stage.

Data flow was light and not of much impact, we had some items out of Japan but USD/JPY stayed confined to a small range.

News flow too was light (see bullets above). Bond yields backed off during the session, lower on the news out Wednesday that the PBOC may be looking at an RRR cut, which was also reported in Chinese state financial media today.

Of interest to Australian dollar traders, RBA Governor Lowe spoke today (see bullets above). Iron ore futures on the Dalian exchange in China fell circa 3% in morning trade.

USD/JPY net little changed on the session:

Forex news for Asia trading onThursday8July 2021

ICYMI - England won their semi-final and will meet Italy in the final Sunday evening (1900 GMT), but of course no-one will be watching, everyone will be joining for the Monday Asia open!

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