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Moves Extend

FOREX

Monday's moves have extended in early Asia-Pac trade, the greenback has continued to decline which has seen Antipodean currencies benefit. Earlier in the session the White House issued a statement that US President Biden and Congress made progress in infrastructure talks.

  • AUD is around 10 pips higher, ANZ Roy Morgan Consumer Confidence fell slightly to 114.0 from 114.1. NZD is around 6 pips higher amid a lack of domestic catalysts.
  • JPY is stronger, USD/JPY some 16 pips lower and below its 50-day moving average for the first time in three-months. There were reports earlier that the BoJ is considering reducing its CPI forecast for this fiscal year.
  • Yuan is slightly lower, but within yesterday's range. USD/CNH down 8 pips at 6.5082, compared to yesterday's lows of 6.5033. Markets await the PBOC LPR announcement later in the session.
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