Risk off on weak China data, USD/JPY extends decline

• USD/JPY declined in Asia, mostly due to risk off sentiment after disappointing Chinese PMI data
• USD/JPY fell from 123.50 through 123.00 to 122.80
• EUR/JPY was an exception, gaining from 138.62 to 138.80.

• EUR/USD extended higher from 1.1230 to 1.1290 in Asia.
• EUR/GBP traded from 0.7159 to 0.7193, EUR/CHF from 1.0775 to 1.0795

• GBP/USD traded sideways in Asia, between 1.5681-98.
• Break above 1.5720 projects tests towards 1.5800.

• USD/CHF adds to losses from 0.9671 yesterday, trading in Asia from 0.9594 to 0.9563.
• Lower US yields leaving USD offered across broad front.

• AUD/USD opened in Asia at 0.7335, then slid from 0.7340 to 0.7285, before bouncing slightly
• Lower to 0.7306 prior to China flash PMI release, slide to low after the data.
• Bias is still down with risk more off on China concerns.

• Asia sees modest push down from 0.6648 late New York to 0.6607.
• Most of the action was between 0.6615-30
• China concerns leading to negative sentiment throughout region.

The post Risk off on weak China data, USD/JPY extends decline appeared first on Forex Circles.

Source:: Risk off on weak China data, USD/JPY extends decline

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