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USD Edges Lower

FOREX

The USD is a touch lower against the majors through the morning session. This is most evident in USD/JPY, where the pair has moved back sub 135.00 from earlier highs 135.15. The pair touched a low of 134.73 before support kicked in. These moves are in line with a weaker equity market tone in both the regional Asia Pac space and US futures (-0.20%/ -0.30%).

  • EUR/USD has crept higher, but remains sub 1.0190 for now. CHF is also slightly firmer, in line with negative lead from equities. USD/CHF is back to the low 0.9500 region.
  • US yields are also off a touch as well, with the 2yr down to 3.26% (-2bps on the day).
  • AUD is outperforming the NZD at this stage. AUD/USD has edged back up to 0.6940, while NZD/USD is around 0.6280. This leaves the AUD/NZD cross in a 1.1055/60 range.
  • Coming up is the AU jobs report for July.
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