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USD Ticks Higher, Mixed Regional Equity/Lower Commodities Helping

FOREX

USD sentiment is ticking higher as the Thursday Asia Pac session unfolds. USD/JPY gains are leading the move, although aggregate shifts are not large at this stage. The BBDXY USD index was last near 1231.2, a little under 0.10% firmer.

  • Cross asset moves are relatively muted, with US yields holding marginally higher, while US equity futures have ticked down. Regional equity moves are mostly positive, although China, Taiwan and South Korean markets are showing modest falls.
  • USD/JPY sits at 145.60 around 0.25% weaker in yen terms. Earlier lows in the pair were sub 145.00. Wednesday intra-session highs were 146.77, so we are still some distance form those levels.
  • AUD and NZD are down around 0.15% at this stage. AUD/USD is at 0.6730/35, NZD/USD is under 0.6150.
  • In the commodity space, we are seeing some slight softness in gold prices, while oil remains on the back foot. This could be weighing on commodity FX at the margins. Iron ore is also paring some of yesterday's gains.

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