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Yen, Aussie Both Struggle For Topside Impetus

FOREX

Sparse headline flow results in a slow start to the Asia-Pac session and largely directionless trade across G10 FX space. The Japanese yen and Aussie dollar both underperform at the margin.

  • Spot USD/JPY has caught a light bid and is grinding towards the psychologically significant Y137.00 level, which capped gains on Wednesday, marking a fresh 24-year high.
  • Spot USD/KRW has advanced in the wake of overnight risk-off flows, lodging its best levels since 2009 as a result.
  • China's official PMI readings headline the regional data docket today, with New Zealand's ANZ Business Confidence also on tap. After Asia hours, focus will turn to final UK GDP, German unemployment & flash French CPI.
  • Elsewhere, Sweden's Riksbank will announce its monetary policy decision. An overwhelming majority of analysts expect the bank to lift its policy rate by 50bp.
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