The Australian dollar was the biggest mover in the Asian session after it reacted negatively to GDP data that indicated the Australian economy expanded less than forecast in the third quarter. GDP grew 0.6% which was short of forecasts for 0.8%.
The Aussie tumbled to a 3-month low against the US dollar and ended the session down 1.15% at 0.9031, the lowest since early September.
In other currencies there was mostly consolidation of yesterday’s moves. The US dollar stabilized after having fallen against the euro and the pound as market participants await the all-important nonfarm payrolls data due on Friday.
The euro was mostly range-bound during the Asian session but ended 0.07% lower at 1.3579 while the pound was little changed at 1.6390. The euro gained 0.08% to 139.41 yen, slightly off a five-year high of 140.01 yen hit yesterday.
The dollar was steadier after yesterday’s big drop against the yen. After a strong rally to 103 yen many investors booked profits. The dollar ended the Asian session at 102.66 yen, with a gain of 0.17%.
US jobs data from ADP later today will be in focus, although US GDP data on Thursday and nonfarm payrolls on Friday are the main risk events that will drive the dollar.
The Australian dollar was the biggest mover in the Asian session after it reacted negatively to GDP data that indicated the Australian economy expanded less than forecast in the third quarter. GDP grew 0.6% which was short of forecasts for 0.8%.
The Aussie tumbled to a 3-month low against the US dollar and ended the session down 1.15% at 0.9031, the lowest since early September.
In other currencies there was mostly consolidation of yesterday’s moves. The US dollar stabilized after having fallen against the euro and the pound as market participants await the all-important nonfarm payrolls data due on Friday.
The euro was mostly range-bound during the Asian session but ended 0.07% lower at 1.3579 while the pound was little changed at 1.6390. The euro gained 0.08% to 139.41 yen, slightly off a five-year high of 140.01 yen hit yesterday.
The dollar was steadier after yesterday’s big drop against the yen. After a strong rally to 103 yen many investors booked profits. The dollar ended the Asian session at 102.66 yen, with a gain of 0.17%.
US jobs data from ADP later today will be in focus, although US GDP data on Thursday and nonfarm payrolls on Friday are the main risk events that will drive the dollar.
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