The forex trading headlines for Asia trading today, Wednesday June 26
- South Korea: Manufacturing BSI Index survey for July: 76 (prior was 78)
- Comments from US Treasury Secretary Lew : US economy is stronger than some expected
- Brazil to scrap reserve requirements on banks’ short-dollar positions in an effort to support the real
- China’s cash crunch eased a little today, but the China Securities Journal expects it will be July before significant improvement in liquidity is seen
- Bank of England Miles: Should not rush to return monetary policy to normal, more support for demand may be needed
Yen was the most active today, with USD/JPY tripping buy stops above 98.00 in the pre-Tokyo market. It ran into sellers above 98.15/20 and slowly lost ground through the morning, coming back to below 97.75 before stabilizing.
The Shanghai Composite lost a little ground from opening levels but had a quiet morning relative to recently.
Gold was the other big mover, getting hit to just below 1250USD.
EUR/USD lost a little ground, trading below overnight lows, just barely. A tight range, though – as was that for GBP.
AUD/USD chopped in a 30-odd point range, a little higher in the morning but back to its lows as the Shaghai Composite came off from opening levels.
