USD/JPY bounces back after Wall St tumble, AUD hurt by Australian GDP

The US dollar took back some ground lost in the previous session to the safe-haven Japanese yen.

• USD/JPY opened Asia at 119.38 after falling 1.52% on heightened risk aversion
• JPY moved higher across the board with the AUD/JPY falling close to 3.0%
• After hitting 119.22 early Asia – USD/JPY ripped higher when Tokyo arrived
• USD/JPY traded up to 120.46 while AUD/JPY bounced to 84.65 from 84.00
• The moves higher were supported by an early jump in S&P futures of nearly 1%
• USD/JPY fell back to 119.92 when Shanghai opened over 4.0% lower
• A reversal higher in the Shanghai later helped push the USD/JPY back to 120.30

• EUR/USD opened Asia at 1.1315 after rising 0.95% on heightened risk aversion
• After trading to 1.1320 in early Asia the EUR/USD fell on USD/JPY strength
• The EUR/USD fell to 1.1260 before consolidating between 1.1260/90
• EUR/JPY buying underpinned while a reversal higher in Asian equities capped
• Key to European session will be performance of equity markets

• GBP/USD opened Wed 1.5302 and traded 1.5291-1.5320 in Asia; last 1.5318

• AUD/USD opened Wednesday 0.7022 traded 0.6982-0.7035; last 0.7030
• AUD/USD fell below key 0.7000 from 0.7030 on soft Australian Q2 GDP 0.2% q/q
• Australia’s economy grew by a mere 0.2% in Q2
• AUD/USD choppy immediately after but finally steadied at 0.6982

• Opened 0.6326, traded 0.6312/62 range thus far in Asia
• Early weakness permeated NZ stocks as index shed 1.5% in element of catch-up
• Tracked 0.6325/45 buoyed by solid NZD/JPY gains as US stock futures firmed

The post USD/JPY bounces back after Wall St tumble, AUD hurt by Australian GDP appeared first on Forex Circles.

Source:: USD/JPY bounces back after Wall St tumble, AUD hurt by Australian GDP

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