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APAC Currencies Stronger Against The Dollar

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The US dollar is moderately weaker during APAC trading today with the BBDXY index at 1248.97 after closing at 1249.77 on Friday. There has been a better risk tone with commodities and equities moderately higher.

  • USDJPY has traded lower through the session and is currently down 0.2% to 156.72, close to the intraday low. BoJ’s Ueda and Uchida said that they are moving towards the 2% target but inflation expectations need to be anchored at this rate.
  • Aussie and kiwi have been supported by the improved risk appetite. AUDUSD is 0.1% higher at 0.6637, close to the intraday high, and NZDUSD is +0.2% to 0.6131. AUDNZD is down slightly to 1.0825.
  • The USDCNY fix at 7.1091 was slightly below Friday’s but remains near recent highs. USDCNH dropped to 7.2542 following the fixing but is currently down slightly to 7.2588. Industrial profits rose 4.3% y/y YTD to April in line with the previous month.
  • USDSEK is down 0.2% to 10.654 while EURUSD is little changed at 1.0849.
  • The largest movers in Asia have been USDKRW -0.3% to 1365.20, USDTWD -0.3% to 32.181 and USDTHB -0.3% 36.57. The Thai government announced an increase in the expected deficit and debt ratio due to the digital wallet scheme.
  • The US and UK are closed today for holidays. ECB’s Lane speaks and German Ifo survey for May prints.
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The US dollar is moderately weaker during APAC trading today with the BBDXY index at 1248.97 after closing at 1249.77 on Friday. There has been a better risk tone with commodities and equities moderately higher.

  • USDJPY has traded lower through the session and is currently down 0.2% to 156.72, close to the intraday low. BoJ’s Ueda and Uchida said that they are moving towards the 2% target but inflation expectations need to be anchored at this rate.
  • Aussie and kiwi have been supported by the improved risk appetite. AUDUSD is 0.1% higher at 0.6637, close to the intraday high, and NZDUSD is +0.2% to 0.6131. AUDNZD is down slightly to 1.0825.
  • The USDCNY fix at 7.1091 was slightly below Friday’s but remains near recent highs. USDCNH dropped to 7.2542 following the fixing but is currently down slightly to 7.2588. Industrial profits rose 4.3% y/y YTD to April in line with the previous month.
  • USDSEK is down 0.2% to 10.654 while EURUSD is little changed at 1.0849.
  • The largest movers in Asia have been USDKRW -0.3% to 1365.20, USDTWD -0.3% to 32.181 and USDTHB -0.3% 36.57. The Thai government announced an increase in the expected deficit and debt ratio due to the digital wallet scheme.
  • The US and UK are closed today for holidays. ECB’s Lane speaks and German Ifo survey for May prints.