May 27, 2024 01:59 GMT
US$ Trending Lower
FOREX
The greenback has trended lower through APAC trading so far today with the BBDXY index down 0.1% and close to its intraday low. There have been only moderate moves in G10 currencies with little new information. The US and UK are closed today for holidays.
- The USDCNY fix at 7.1091 was slightly below Friday’s but remains near recent highs. USDCNH dropped following the fixing and is currently down 0.1% to 7.2552. Industrial profits rose 4.3% y/y YTD to April in line with the previous month.
- USDJPY is down 0.1% to 156.82 off the intraday low 156.68. BoJ Governor Ueda said that inflation expectations need to be re-anchored and that it is a challenge determining the neutral rate.
- AUDUSD is up 0.1% to 0.6636 helped by the lower CNY fix and rallying China/HK equities. NZD is also 0.1% higher at 0.6129 leaving AUDNZD around 1.0827.
- USDSEK is the largest G10 mover so far today down 0.2% to 10.653. EURUSD is slightly higher at 1.0850.
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