September 26, 2024 04:13 GMT
FOREX: G-10 Currencies Take a Breather After Yesterday’s Dollar Strength.
FOREX
- G10 currencies were quiet in Asian trading hours today following yesterday’s surge by the USD.
- As markets continue to digest the China stimulus news, further stories were hitting markets about the Chinese authorities recapitalising the major banks to support the expected rise in lending to support the economy.
- The BBG dollar spot index fell 0.10% in morning trade, giving back some of yesterday’s outperformance.
- Having trading briefly through 140 to the USD ten days ago, the JPY has softened since trending towards 145, settling at 144.90 in the afternoon session in Tokyo.
- The AUD, having trending down to 68.20 this morning, trended higher at 68.45, following Asian FX moves.
- The US will see a barrage of data tonight, potentially given further insight as to the pace of rate cuts by the Federal Reserve. Data out tonight include GDP, Core PCE, Durable Goods and Initial Jobless Claims.
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