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Sep 16, 2014
Asia Recap: USD profit taking activity, Japan's quake scare
FXStreet (Bali) - It was a fairly slow affair in Asia, with the US Dollar giving back a bit of ground, mainly on profit taking ahead of the FOMC on Thursday, while the Yen still remained weak.
AUD/USD remained capped by 0.9050 offers, NZD/USD's recovery found an impregnable wall of offers at 0.82, USD/JPY had a brief drive below 107.00 before a solid return of bids towards 107.15, EUR/USD consolidated around 1.2950, with GBP/USD also range-bounding above the 1.6225 but limited by 1.6250.
On the fundamental front, amid the absence of economic indicators, RBA's Assistant Governor Kent crossed the wires, speaking at a Bloomberg conference in Sydney, noting tangible signs of pick up in non-mining investment, adding that the Aussie remains high.
The came the RBA minutes from the Sept 2 policy decision, reiterating that for now, the most prudent course is likely to be a period of stability for rates, also noting that policy must take into account risk of further large build-up in home prices.
In Japan, an earthquake of 5.6 magnitude, centered under Ibaraki Pref., near Tokyo, at depth of 50 km, was reported, although fortunately, no tsunami alert was issued. TEPCO said to be checking conditions of nearby nuke plants, although from all the headlines gather up until now, no negative ramifications were expected.
Main headlines in Asia
RBA's Kent: Pick up in non-mining investment, Aussie still high
RBA minutes: Stability in rates, A$ above most fundamental estimates
Earthquake of 5.6 magnitude near Tokyo
AUD/USD remained capped by 0.9050 offers, NZD/USD's recovery found an impregnable wall of offers at 0.82, USD/JPY had a brief drive below 107.00 before a solid return of bids towards 107.15, EUR/USD consolidated around 1.2950, with GBP/USD also range-bounding above the 1.6225 but limited by 1.6250.
On the fundamental front, amid the absence of economic indicators, RBA's Assistant Governor Kent crossed the wires, speaking at a Bloomberg conference in Sydney, noting tangible signs of pick up in non-mining investment, adding that the Aussie remains high.
The came the RBA minutes from the Sept 2 policy decision, reiterating that for now, the most prudent course is likely to be a period of stability for rates, also noting that policy must take into account risk of further large build-up in home prices.
In Japan, an earthquake of 5.6 magnitude, centered under Ibaraki Pref., near Tokyo, at depth of 50 km, was reported, although fortunately, no tsunami alert was issued. TEPCO said to be checking conditions of nearby nuke plants, although from all the headlines gather up until now, no negative ramifications were expected.
Main headlines in Asia
RBA's Kent: Pick up in non-mining investment, Aussie still high
RBA minutes: Stability in rates, A$ above most fundamental estimates
Earthquake of 5.6 magnitude near Tokyo