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ForexLive Asia-Pacific FX news wrap: A little stability evident

Started by forex4you, Jul 26, 2024, 02:44 pm

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ForexLive Asia-Pacific FX news wrap: A little stability evident


Yen
crosses still had some gyration but nothing like what we saw earlier
this week. USD/JPY traded early to lows under 153.50, recovered to
above 154.00 before dipping back to lows and, as I update, is sitting
under 154.00. Kanda made some comments, nothing dramatic - in the
bullets above.

EUR,
AUD, GBP, and gold all rallied against the US dollar (ranges were not
large). GBP, NZD and CAD were mainly sideways. The People's Bank of
China set the CNY a little stronger at its reference rate today.

News
flow was very light. In US politics Trump, through his campaign team,
has refused to debate Harris until she becomes the official nominee.
This didn't stop the Biden / Trump debate, so it's a bit of a
mystery.

In
data we had an improved consumer confidence survey from New Zealand,
but still in pessimistic territory. Tokyo inflation data was
mixed, not sending conclusive signals on any wage-push inflation the
BoJ is keen to see.

AUD not too convincing, but some stability.



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

Source: ForexLive Asia-Pacific FX news wrap: A little stability evident

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