JPY better bid

Posted On 19 May 2015

Tag: AUDUSD, EUR/CHF, GBPUSD, USDCHF, USDJPY

AUD/USD opened in Asia at 0.7991 and drops to a session low of 0.7956 after dovish RBA minutes. Aussie quickly recovered and later bounced to 0.8001. The minutes confirmed scope for further interest rate cuts by the central bank.

USD/JPY consolidated yesterday’s gains and traded between 119.86-120.04. But it maintains an upside bias, as US Treasury yields are firm and the Nikkei rose. EUR/JPY was heavy, trading from 135.82 to 135.42.

EUR/USD extended lower in Asia, from 1.1326 to 1.1285. It maintains a downside bias, due to concerns over Greece. But Bund yields are steady.

GBP/USD was soggy, making another low in Asia at 1.5632. Cable has fallen further from a 5-month high of 1.5815 hit last week.

USD/CHF held onto gains made after rising yesterday. The pair traded in a tight 0.9258-72 range. EUR/CHF traded between 1.0460-86 chop. There pair has little direction, as the threat of SNB action lends support.

NZD/USD opened in Asia at 0.7393 and slid to 0.7360 due to soft New Zealand PPI data. But the kiwi soon surged to 0.7432. RBNZ quarterly inflation expectations survey was much stronger than expected though. Also helping NZD was that a possibility of a June/July rate cut are down significantly.

The post AUD/USD falls after dovish RBA minutes, USD/JPY better bid appeared first on Forex Circles.

Source:: AUD/USD falls after dovish RBA minutes, USD/JPY better bid

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