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JPY Edges Lower As Japan Comes Back From Holidays

FOREX

Market is reluctant to give G10 FX space any clear directionality, with major crosses sticking to narrow ranges this morning, even as Japan and Singapore return from holidays. JPY trades on a slightly softer footing and USD/JPY has extended gains into the Tokyo fix, but yesterday's highs have remained intact thus far.

  • USD/KRW has edged higher after South Korea's trade data for the first 10 days of August showed a faster decline in both imports and exports, as measured on a Y/Y basis.
  • Australian NAB Business Confidence and weekly payroll data, Japanese Eco Watchers Survey, UK labour market figures, German ZEW Survey, U.S. PPI, Canadian housing starts & comments from Fed's Barkin and Daly take focus from here.
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