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Asia Recap: Yen gives back gains ahead of US NFP

FXStreet (Bali) - As usual ahead of the US NFP, the Asian session offered subdued moves, with the Japanese Yen the main mover today, giving back some of the gains from Thursday.

USD/JPY had a steady progression to the upside, until met with selling interest at the 108.90/109.00 vicinity, resulting on a pause near the highs. AUD/USD maintained its short term bullish tone, although still struggling to clear offers above 0.88. NZD/USD saw important resistance at 0.79 being tested, but just like its AUD cousin, failed to break, leading to a deeper retracement towards 0.7850/60. EUR/USD and GBP/USD both consolidated ahead of the US NFP, the main event for Friday.

In the fundamental space, Australia's AIG performance of services index for September disappointed after a 45.4 read v 49.4 last, with HIA new home sales at 3.3% MoM in August; also in Australia, PM Abbott confirmed the country will deploy army personnel in Iraq's ground to assist the battle against ISIS. In the US, Federal Reserve Bullard had quite a lot to say regarding monetary policy, including that the Fed is currently behind schedule on raising rates as QE3 ends. In China, the services PMI came in at 54.0 vs 54.4 prior. In Japan, the services and Composite PMI improved to 52.5 vs 49.9 exp.

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