Forex news for Asia trading Wednesday 10 December 2014

Still to come:

Plenty of movement in Asia today.

EUR, GBP and CHF against the USD were not where most of the action was, but all had a little bit of a wiggle and end the session stronger against the USD, albeit not by much.

USD/JPY fell initially in the Tokyo morning but found support from 119.20 which took it higher to just shy of 120 before topping out. ‘Gotobi day’ was the word on a few lips, but this chatter dried up as the USD/JPY fell pretty much all the way back to its session lows and further down. Yen crosses followed a similar pattern.

Kiwi and AUD were movers, too, following similar patterns on the session. AUD/USD didn’t show much response to the very poor consumer sentiment data (see bullets, above), but did manage to fall away to test below 0.8270 heading into the China CPI and PPI data. Perhaps it was this data that showed continued PPI deflation and very low inflation igniting thoughts of Chinese stimulus which then sent the AUD steadily higher … though a simpler explanation is the fall in the USD/JPY at around the same time.