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Little to report for G10 FX in early Asia.....>

FOREX
FOREX: Little to report for G10 FX in early Asia dealing. USD/JPY comfortably
back above Y106.00 on the back of the movement in equity markets in European/NY
hours, of course largely aided by the developments in Hong Kong on Wednesday.
- Elsewhere, GBP/USD trades at ~$1.2250, with EUR/GBP a whisker above GBP0.9000
on the back of lower no-deal Brexit odds owing to the goings on in Westminster
over the last 36 hours. Cable has managed to break above the downtrend channel
drawn off the May 6 high, which allows those of a bullish disposition to focus
on the Aug 27 high at $1.2310. GBP bulls look for EUR/GBP to break psychological
support at GBP0.9000 to signal the potential for further momentum.
- AUD/USD is little moved but threatening a break above $0.6800. Meanwhile soft
Q2 construction data out of NZ has done little to stir the kiwi.
- Focus in Asia will fall on the monthly Australian trade data, goings on in
Hong Kong and the USD/CNY fix. Later in the day participants will look to Fed
Chair Powell's latest address, non-m'fing ISM & ADP employment data out of the
U.S, the Riksbank MonPol decision and German factory orders. Also worth flagging
that we will hear from ECB's de Guindos & BoE's Tenreyro on Thursday.
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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