Forex Today: Yen sold-off in Asia, UK CPI – Key
|We had a quiet Asian session, with most majors in a consolidative mode amid broad-based US dollar rebound. However, the Yen emerged a big mover, having reversed a part of yesterday’s sharp rally against its American counterpart, in a bid to regain 111 handle. Meanwhile, the Kiwi also traded with moderate losses, extending its retreat from four-month tops of 0.7315.
Among other related markets, oil prices traded mixed while gold prices kept range near $ 1340 levels. The Asian equities advanced this Tuesday, as investors look forward to the US earnings reports. However, the Australian markets ditched the trend and shed -0.50%.
Main topics in Asia
S. Korea’s FinMin: There is irrational speculation in cryptocurrencies
Survey: Brexit creeps up UK risk managers' worry list - RTRS
AUD/USD rally contradicts breakdown in 2Y AU-US yield spread
China Press: Ratio of Treasuries in China fx reserves unlikely to fall
Japan's Aso - Don't see big deal with Dollar at around 110.80 Yen
ECB's Lane - Abrupt Brexit would be a "genuine shock" to financial stability
Key Focus ahead
Heading into Europe, we have a relatively eventful calendar, with the German final CPI and WPI data to be reported ahead of the key UK CPI and PPI releases. Meanwhile, the NA session offers the US Empire State manufacturing index data, which will be followed by the NZ GDT price index and SNB Chairman Jordan’s speech.
Jordan is due to deliver a speech titled "How money is created by the central bank and the banking system," at the University of Zurich.
EUR/USD: Volatile within range sub-1.2300 ahead of German data
GBP/USD - Risk reversals rise, but resistance at 1.3836 could hold on Brexit concerns
UK: Key economic events ahead – Nomura
Bank of Canada - 25bps rate hike likely, but Nafta remains a risk - ING
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