FOREX: USD Moderately Lower, European FX Outperforming

Movements in G10 currencies during APAC trading have been limited with little new information. The BBDXY USD index is down 0.1% but has been range trading through the session after Tuesday’s 0.5% drop. European currencies are around 0.1% stronger while Aussie and Kiwi are about 0.1% weaker.

• USDJPY is little changed after falling briefly below 143.0 and then testing 143.50. It is currently around 143.27.
• AUDUSD is down 0.1% to 0.6889, close to the intraday low that followed underlying CPI printing close to the top of the band. It rose above 69c early in the session peaking at 0.6908 as the rally following China’s monetary easing continued. AUDJPY is down slightly to 98.70 even though iron ore prices are higher again.
• NZDUSD is also 0.1% lower at 0.6334 despite stronger HK/China equities. It rose to a high of 0.6356 earlier. AUDNZD is off its post-Aussie CPI low of 1.0850 to be up slightly at 1.0877.
• USDCHF is down 0.1% to 0.8422 and EURUSD is up 0.1% to 1.1196 leaving EURCHF at 0.9429. GBPUSD is little changed at 1.3417.
• Later the Fed’s Kugler speaks on the economic outlook and US August new home sales and French September consumer confidence print. BoE’s Greene also appears.