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FX Space Sees Stabilisation With Japan Markets Closed

FOREX

The dust settles after the "Super Thursday" which saw a number of major central banks tighten monetary policy, in the wake of Wednesday's 75bp rate hike from the Fed. The AUD, CAD and CHF trade on a marginally firmer footing amid little volatility across G10 FX space.

  • The yen holds Thursday's gains, stabilising in the wake of a currency intervention by Japanese authorities. Spot USD/JPY last deals at Y142.34, regional risk barometer AUD/JPY sits at Y94.63, both little changed as we type.
  • Spot USD/CNH holds slightly above neutral levels as we await the next PBOC fix. China's central bank has now set the USD/CNY mid-point below expected levels for 21 days in a row, which is the longest such streak on record.
  • The Asia-Pac economic docket is virtually empty today, with Japan off for a public holiday and New Zealand set to observe market closure on Monday. Fed's Powell, SNB's Jordan, as well as ECB's Nagel & Kazaks will speak after hours, while data highlights include a slew of PMI readings and Canadian retail sales.
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