ForexLive Asia-Pacific FX news wrap: USD up, region’s equities lower

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ForexLive Asia-Pacific FX news wrap: USD up, region's equities lower

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There
have been small gains for the US dollar during the session here. EUR,
GBP, AUD, NZD, CAD, CHF and even yen are all a touch softer against
the USD. Local markets digested the US CPI data, there was not a lot
else of impact.</p><p class="western">Reserve
Bank of Australia Governor Lowe gave testimony in front of a
parliamentary committee today. On interest rates he said he thought
they had further to rise but couldn't say by how much. Both
comments seem right. He covered a wider range of topics also (see
bullets above).</p><p class="western">From
the People's Bank of China we had an addition of funds via a Medium
Term Lending Facility at an unchanged rate. This is strongly
suggestive of no change to come for Loan Prime Rates to be set by the
Bank on the 20th
of the month.</p><p class="western">While on central banks, the Hong Kong Monetary Authority intervened in the USD/HKD rate again today, the second day in a row. The HKD has fallen to the weak end of its permitted trading band and the HKMA is taking action to support it (buy HKD, sell USD)</p><p>The private survey of oil inventories showed a much larger build than was expected, providing a headwind to oil.</p>

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: ForexLive Asia-Pacific FX news wrap: USD up, region's equities lower

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