Free Trial

Greenback Little Changed In Asia, Fresh Multi-Month High For USD/JPY

FOREX

The USD is little changed in Tuesday's Asian session, USD/JPY printed a fresh multi month high before meeting resistance ahead of ¥139 and paring losses to deal unchanged.

  • USD/JPY prints at ¥138.45/55, unchanged from yesterday's closing levels. The pair printed its highest level since 29 Nov before meeting resistance ahead of ¥139 and paring losses in volatile trade. The latest round of flash PMIs showed the Japanese economy's recovery is gaining momentum.
  • AUD/USD prints at $0.6650/55 little changed on Tuesday. Flash Judo Bank PMIs for May crossed Services PMI fell to 51.8 from 53.8, Mfg PMI remained in contractionary territory at 48.0. The Composite measure printed at 51.2.
  • Kiwi has also traded in narrow ranges and is little changed in Asia. NZD/USD briefly firmed above $0.63 before paring gains after being unable to follow through on the move higher. The pair last prints at $0.6280/85.
  • Elsewhere in G-10 NOK and SEK are marginally pressured however liquidity is generally poor in Asia.
  • Cross asset wise; BBDXY is flat, e-minis are ~0.2% firmer.
  • In Europe today we have Eurozone, German and French flash PMIs before a slew of US data including Philadelphia Fed Non-Mfg Activity, New Home Sales and Services & Mfg PMIs.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.