ForexLive Asia FX news: Yen higher ... politics the culprit?

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Tuesday 16 May 2017

ICYMI:

Politics was the early story, with the Washington Post reporting on the leaking of classified information by you-know-who. Much argument ensued (natch).

The yen gained on the news but then gave it nearly all back, before gaining again:


Apart from this, news and data flow was light. Australian consumer sentiment dropped again, and later we got RBA Minutes, which provided little to surprise. Soon enough, though, the Australian dollar slipped back towards its overnight low and is trundling along near there as I update.

NZD was a touch stronger, not giving away all its gains for a net loss on AUD/NZD for the session.

EUR and CHF have edged (very) small stronger against USD, as has GBP. USD/CAD is little net changed. The People's Bank of China set the mid rate for the CNY against the dollar at a stronger rate for the 4th successive session.

The weaker USD was reflected in the price of gold, higher on the session. Oil gained a few cents from its US low point.

DJ broke news on Ford, to cut its global workforce by about 10%.

Regional equities:

  • Nikkei +0.03%%  ... the index hit a 17-month high today, but then dropped quite sharply as the yen rallied
  • Shanghai -0.51%
  • HK -0.27%
  • ASX +0.09%

Still to come: