ForexLive Asia FX news wrap: USD/JPY popped 113 but not by much
- More on Goldman Sachs oil call - prices $70-$80 and volatile in short term
- PIMCO on the "Yuan Decline: Concerning But Not Systemic"
- South Korea's fin min warns job growth worst since the financial crisis
- PBOC sets USD/ CNY mid-point today at 6.6914 (vs. yesterday at 6.6821)
- More from Fed's George: Heightened trade policy uncertainty not healthy for economy
- Australia Westpac leading index for June: +0.01% m/m (prior -0.22%)
- Fed's George says further gradual US rate hikes are needed
- More on the huge EU Japan free trade agreement
- US Def Sec on possible first talks since 2015 between US, Russia defense chiefs
- In the US? Want to buy an imported car? Tariffs will push the price up by $5,800
- US Treas Sec Mnuchin to attend G7 on China, no plan for bilateral meeting
- More on possible tariffs on US uranium imports
- Trade ideas thread - Wednesday 18 July 2018
- Private oil inventory data shows a surprise build in crude oil inventories
USD/JPY scores the wrap headline again ... its 20 point pop was about the only Asia forex move today. Sheesh.
There was little news nor data about. We got comments from Kansas Fed Head George, unsurprising ones (a central banker's job to be fair) that barely rippled the pond.
The USD was tightly rangebound pretty much against everything and as I post there is little net change for the session so far anywhere. USD/JPY popped 113, continuing on its EU/UK/US time gains, but has since sagged just a touch back under.
The Nikkei (Japan stock market index) hit above a one month high today. Exporter stocks liking the weaker yen indeed, and shrugging off concerns on trade war tariffs for now.
The PBOC weakened the onshore yuan again today, PIMCO sees the currency as a bit of a shock absorber as trade tensions mounts (more in the post bullet above from them and a link for even more).
Still to come: