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USD inches a little higher

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Forex news for Asia trading on
Thursday
8
July 2021

The US dollar strengthened
against most other major currencies although ranges were not large.
USD/JPY was a bot of an exception, after an early fall is more or
less flat on the session as I update. Little change also for USD/CHF
while GBP, AUD, NZD, CAD have all lost ground against the dollar.
Gold is back under $1800. Oil has not done a lot.

Bitcoin
has lost around $1K+ on the session, to lows under $32,200 at one
stage.

Data
flow was light and not of much impact, we had some items out of Japan
but USD/JPY stayed confined to a small range.

News
flow too was light (see
bullets above). Bond yields backed off during the session, lower on
the news out Wednesday that the PBOC may be looking at an RRR cut,
which was also reported in Chinese state financial media today.

Of interest to Australian dollar traders, RBA Governor Lowe spoke today (see bullets above). Iron ore futures on the Dalian exchange in China fell circa 3% in morning trade.

USD/JPY net little changed on the session:

Forex news for Asia trading onThursday8July 2021

ICYMI
– England won their semi-final and
will meet Italy
in the final Sunday evening (1900 GMT), but of course no-one will be
watching, everyone will be joining forexlive.com for the Monday Asia
open!



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