AUD, NZD, EUR & GBP Drift Off NY Highs in Subdued Trade

AUD, NZD, EUR & GBP Drift Off NY Highs in Subdued Trade

The dollar and yen remained generally weaker in Asia after both currencies eased in New York trading on the back of increased risk appetite on the back of the Wall Street gains. Asian stocks, aside from Australia, were broadly higher on further China stimulus news, but the USD actually regained some ground on profit-taking in a subdued session. EUR-USD, which rallied above 1.3050 in late NY, dropped back to 1.2955 lows before bouncing to 1.3034 ahead of the London open. AUD, NZD, CAD and GBP similarly eased off their highs seen in late NY, before finding a fresh bid into the afternoon. USD-JPY bounced from the NY lows around 88.58 to open in Tokyo around 89.43 and edged up to highs of 89.68. However, USD-JPY remains in the recent range of 88-90 that continues to be contained by purported option expirations. U.S. Treasury yields were firm on the back of the Asian stock gains, and commodities posted gains with S. Korea stating that they would build a base metal stock pile and BHP noting signs of nascent iron ore demand from China, knew that could boost the commodity currencies in coming sessions.

DailyFX

Disclaimer

Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.