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Muted Moves After Busting Out Of Ranges Overnight

FOREX

Narrow ranges seen in early Asia-Pac trade after large moves overnight.

  • AUD slightly softer, data earlier saw IHS Markit Australia March Services PM rise to 55.5 vs 53.4 in Feb, while Australia ANZ Consumer Confidence fell to 107.7 from 112.3 previously. AUD/USD last down 2 pips at 0.7662.
  • NZD is faring better, NZD/USD last up 2 pips at 0.7061. GDT auction results from overnight saw average price for whole milk powder rose to $4,085/to, up $2/ton from the previous auction.
  • JPY is softer, USD/JPY regaining some lost ground. The pair last trades at 109.85. BoJ Gov Kuroda will speak in the Diet Wednesday from 0500BST/1200HKT, while Japan PM Suga says a snap election before the end of September is a possibility.
  • GBP is higher, GBP/USD gaining around 5 pips after reports that UK will start the rollout of the Moderna COVID-19 vaccine from today.

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