Asian Session – Yen gains on upbeat data, Aussie declines on RBA Governor comments
October 29, 2013 7:31 am
The biggest mover in the Asian session was the Australian dollar which fell after Reserve Bank of Australia Governor Glenn Stevens suggested the Australian currency was overvalued. He said the currency will probably be “materially lower” in the future.
The aussie declined 0.5% versus the greenback to end the session at 0.9518, after having reached a 2-week low.
The yen was given a boost in the Asian session after some positive Japanese economic data, halting the currency’s recent decline against the US dollar and against the euro. Focus now shifts to the Bank of Japan monetary policy statement on Thursday.
The yen gained 0.13% versus the dollar to end the session at 97.55 and gained 0.12% against the euro to end at 134.50.
Elsewhere the US dollar gained against the euro and against the pound sterling, but further gains were limited as market participants await the Federal Reserve policy announcement tomorrow. The FOMC begins its 2-day policy setting meeting today. Expectations are for the Fed to keep the pace of current stimulus unchanged.
The euro fell during the Asian session but found support at 1.3775 before bouncing back to end the session flat against the dollar. Sterling fell 0.19% against the dollar.
The biggest mover in the Asian session was the Australian dollar which fell after Reserve Bank of Australia Governor Glenn Stevens suggested the Australian currency was overvalued. He said the currency will probably be “materially lower” in the future.
The aussie declined 0.5% versus the greenback to end the session at 0.9518, after having reached a 2-week low.
The yen was given a boost in the Asian session after some positive Japanese economic data, halting the currency’s recent decline against the US dollar and against the euro. Focus now shifts to the Bank of Japan monetary policy statement on Thursday.
The yen gained 0.13% versus the dollar to end the session at 97.55 and gained 0.12% against the euro to end at 134.50.
Elsewhere the US dollar gained against the euro and against the pound sterling, but further gains were limited as market participants await the Federal Reserve policy announcement tomorrow. The FOMC begins its 2-day policy setting meeting today. Expectations are for the Fed to keep the pace of current stimulus unchanged.
The euro fell during the Asian session but found support at 1.3775 before bouncing back to end the session flat against the dollar. Sterling fell 0.19% against the dollar.
Related Posts: