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USD Moderately Pressured In Asia

FOREX

The greenback is moderately pressured in Asia today, risk sentiment remains resilient after Russian political instability over the weekend.

  • Kiwi is the strongest performer in the G-10 space at the margins. NZD/USD is up ~0.4% and last prints at $0.6165/70. The pair has firmed above the 20-Day EMA ($0.6161). AUD/NZD is down ~0.3%, falling below the 200-Day EMA. The cross last prints at $1.0835/45.
  • AUD is a touch firmer however ranges have been narrow with little follow through.
  • The Yen is firmer after comments from vice finance minister Kanda that FX intervention can't be ruled out. The BOJ Summary of Opinions noted that one member asked for an early revision of YCC. USD/JPY is ~0.2% lower.
  • Elsewhere in G-10 GBP and EUR were ~0.1% firmer.
  • Cross-asset wise; BBDXY is down ~0.2% and e-minis are up ~0.2%. 2 Year US Treasury Yields are down ~1bp.
  • There is a thin data docket in Europe today.

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