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JPY & USD Outperform As Chinese & HK Equities Struggle

FOREX

The BBDXY remains firmer on the day, trading through Friday’s high as the greenback outperforms all of its G10 FX peers outside of the JPY.

  • Weakness in Chinese & HK equities as the region reacted to the latest Country Garden news flow and Chinese credit data supported the JPY & USD.
  • USD/CNH showed above CNH7.2800 but failed to challenge YtD highs of CNH7.2857, before moving back from session highs.
  • USD/JPY briefly showed above Y145.00, registering a fresh YtD high, before fading from extremes as the JPY benefitted from defensive posturing as London participants filtered in.
  • AUD/USD found support around prior YtD lows, while NZD/USD ticked further below $0.60.
  • Monday’s data and central bank speaker slate is essentially empty, which will leave cross-market swings and headline flow at the fore.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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