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Greenback Bid In Asia

FOREX

The USD is trading on the front foot late in the Asian session, BBDXY is up ~0.2%, as Netherlands and Japan agreed to join US curbs on Chinese chips.

  • USD/JPY also gave up its early CPI inspired gains having met support below ¥129.60 and is dealing a touch above ¥130.
  • AUD/USD saw resistance above $0.7120, however is currently holding above $0.71.
  • There have been narrow ranges in NZD/USD, kiwi is the strongest performer in the G-10 space at the margins as business conditions improved off record lows. The pair is dealing just above session lows at $0.6485/90.
  • EUR and GBP are both ~0.2% softer vs the USD.
  • Lunar NY Holiday impacted liquidity in Asia-Pac hours, with China still out.
  • There is a thin docket in Europe today. Further out we have a slew of US data including personal income/spending, PCE Deflator, UofMich Consumer Sentiment and Pending Home Sales.
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