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USD Pressured In Asia

FOREX

The greenback is pressured in Asia, Fed Chair Powell's comments that the Fed has moved to a more data dependent view has seen risk sentiment improve in Asia. US Tsy Yields are lower and US Equity futures and regional equities are firmer. The Antipodeans and the Yen are leading the bid.

  • Kiwi is the strongest performer in the G-10 space at the margins. NZD/USD firmed above its 200-Day EMA ($0.6229) and breach its post-FOMC high, bulls now target the high from 20 July ($0.6308).
  • AUD/USD is up ~0.4% last printing at $0.6780/85. Resistance comes in at $0.6847 (high from Jul 20) and $0.69 (high from June 16).
  • Yen is ~0.3% firmer, USD/JPY has breached the ¥140 handle and sits a touch above support at ¥139.75, the low from July 21.
  • Cross asset wise; 2 Year US Tsy Yields are down ~3bps. E-minis are ~0.2% firmer and the Hang Seng is up ~1%.
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