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23 May 2014
Asia Recap: AUD off lows ahead of long weekend
FXStreet (Bali) - Currencies traded stable with some pre-weekend profit taking noted in currencies like the Aussie, which saw some of its Thursday's losses pared, while the Yen consolidated tightly.
AUD/USD started the Tokyo session pressured, finding a low of 0.9216 before heavy turnover at lows saw the exchange rate catapulted over 30 pips higher - which looks like quite a run given current market conditions - , only to find offers ahead of 0.9250 capping the advance in Asia.
USD/JPY failed to gather any upside momentum during Asia, recording a 101.58-101.83 range. This time, the Nikkei 225, which approaches the close on solid gains - +1.1% - failed to stimulate buyers, perhaps wary of adding positions ahead of the long weekend, with London and NY closed next Monday on bank holidays.
The rest of G10 currencies saw little changes, with the Euro a tad softer, while the Pound posted further gains to 1.6872. On the fundamental front, goods news for Spain and Greece, as S&P and Fitch raised the countries' credit ratings to BBB and B respectively. We also had Fed's Williams crossing the wires, saying that "Fed will make and do things some market participants may not expect", adding "raising rates will go smoothly once we start."
AUD/USD started the Tokyo session pressured, finding a low of 0.9216 before heavy turnover at lows saw the exchange rate catapulted over 30 pips higher - which looks like quite a run given current market conditions - , only to find offers ahead of 0.9250 capping the advance in Asia.
USD/JPY failed to gather any upside momentum during Asia, recording a 101.58-101.83 range. This time, the Nikkei 225, which approaches the close on solid gains - +1.1% - failed to stimulate buyers, perhaps wary of adding positions ahead of the long weekend, with London and NY closed next Monday on bank holidays.
The rest of G10 currencies saw little changes, with the Euro a tad softer, while the Pound posted further gains to 1.6872. On the fundamental front, goods news for Spain and Greece, as S&P and Fitch raised the countries' credit ratings to BBB and B respectively. We also had Fed's Williams crossing the wires, saying that "Fed will make and do things some market participants may not expect", adding "raising rates will go smoothly once we start."