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Powell & NFP Reaction Promotes Comfortably Above Average Volumes In Asia Hours

FOREX

The Asia-Pac reaction to the Powell-NFP combination has seen a marginal extension of Friday’s post-data bid, allowing the BBDXY to touch a fresh ’24 high, before pulling back from best levels.

  • Desks suggest that Asia-Pac interbank FX volume was 40-50% above the recent norms, with adjustments in Fed pricing front and centre when it came to discussions, although Tsy yields are back from their Asia highs (which went beyond Friday’s post-NFP extremes across the curve).
  • The greenback is only (incrementally) bettered by the Antipodeans & the JPY when it comes to G10 FX, with AUD & NZD seeing little feedthrough from the swings in the Chinese equity sphere.
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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