Currencies Range Trading, US Closed

Moves in FX during today’s APAC session have been limited with the US dollar little changed and Aussie and Kiwi the largest movers. There has been little news to drive markets. The USD BBDXY index is down slightly, close to its low after falling 0.2% on Tuesday.

• AUDUSD has continued trading higher after it was boosted yesterday by a more hawkish RBA and positive risk sentiment. It is currently up 0.2% at around 0.6668, around today’s high.
• NZDUSD has moved in the opposite direction and is down 0.1% to 0.6139, close to the intraday low, after a high of 0.6146. AUDNZD as a result is 0.3% higher at 1.0863.
• USDJPY has been trading in a narrow range again and the pair is down slightly to around 157.80. The yen looked through the BoJ minutes and USDJPY is up 0.3% this week despite Governor Ueda not ruling out a rate hike in July.
• CNY fixing was 69pips tighter than yesterday and the lowest in around two weeks. USDCNH is off its intraday high of 7.274 to be little changed at 7.2716.
• Equities are generally stronger with the Hang Seng up 1.5% but ASX flat and CSI 300 down 0.4%. The S&P e-mini is slightly higher. Oil prices are unchanged with WTI up $80.73/bbl. Iron ore is around $107-108/t and copper is up 0.3%.
• The US is closed for a holiday. UK May PPI/CPI and euro area Q1 current account print.