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USD Weakness Continues, AUD and Yen Outperforming

FOREX

USD softness continues in the first part of Thursday trade. The BBDXY index is sub 1249.5, although still above late May lows (just under 1246).

  • The yen and the A$ are the strongest performers at this stage. There don't appear any fresh macro drivers for these moves, with news flow fairly light at this stage.
  • In the cross asset space, US equity futures are around flat, while US yields are still up a touch, but close to recent lows. Regional equity markets are tracking higher, following the positive US/EU lead from Wednesday trade.
  • USD/JPY is back to 155.50, around 0.40% stronger in yen terms. Recall recent lows (Jun 4) came in close to 154.50.
  • AUD/USD is up 0.45%, last around 0.6685. NZD/USD is up 0.30%, but consolidating at fresh multi month highs above 0.6200.
  • Coming up shortly we have Aust data on housing finance and trade. BoJ speak is also due.
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