Yen Firmer In Asia

The Yen is the strongest performer in the G-10 space at the margins in Asia on Tuesday. USD/JPY has fallen ~0.3% and sits below the ¥141 handle.

• USD/JPY prints at ¥140.75/85, and is at its lowest level since mid-June. There was no obvious headline driver for the move with technical flows and a continuation of Monday's price action weighing. Support comes in at the 50-Day EMA (¥140.30).
• AUD/USD is ~0.2% firmer, reflecting the broader USD weakness seen in Asia. The pair still sits below the $0.67 handle, and resistance comes in at $0.6721. Business Conditions were steady in June, with Business confidence ticking higher to sit flat.
• Kiwi is a touch firmer, NZD/USD is up ~0.1%. Gains have been capped at the 200-Day EMA ($0.6223) which is emerging as a key level for bulls.
• Elsewhere in G-10 EUR and GBP are ~0.2% firmer. NOK is up ~0.3% however liquidity is generally poor in Asia.
• Cross asset wise; BBDXY is ~0.2% lower and US Tsy Yields are ~1bp softer across the curve.
• In Europe today we have UK jobs data and the final read of German CPI.