ForexLive Asia FX news: Tariffs, North Korea, BOJ ... now NFP to come

Author: Eamonn Sheridan | Category: News

Forex and Bitcoin news for Asia trading Friday 9 March 2018

Politics to centre stage yet again, with the US tariff announcement/signing (US afternoon news), followed by the announcement on North Korea. The North Korea announcement was pre-empted with clear guidance on what to expect:

The yen started sliding, stabilising around 106.40 before the confirmation came with the statements from South Korean National Security Adviser, speaking from the White House:

USD/JPY steadied for a few minutes after and then took off for another leg higher, halting its advance just ahead of the 107 big figure.

Apart from the NK news we got data from China; inflation and financing, both looking to have been impacted by Lunar new Year distortions. And a sharp devaluation or the onshore yuan from the PBOC.

The Bank of Japan statement from its March monetary policy meeting followed, with no change to policy, no change to outlook and, for a hat trick of 'as expected' a dissent from Kataoka (he wants the Bank to do MOAR!!!).

After the BOJ the yen is little changed, its backed off from the earlier high (circa 106.94).

Other currencies ... not a lot to report really. EUR/USD dipped briefly under 1.2300, USD/CHF seemed to benefit from the decline in risk aversion associated with North Korea developments, slightly higher.  Cable is little changed at all. As are, AUD, NZD and CAD (USD/CAD had fallen late US time but tracked around 1.2900 for much of Asia so far, dipping towards 1.2880 early and coming back).

Gold is down a little on the session, as fits with other developments. BTC has lost a little ground on the session.

Still to come:

Oh, and a ps - US moves onto daylight saving on Sunday - traders of US markets take note!
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