Forex news for Asia trading Thursday 1 June 2017
– ICYMI
The Australian dollar was a big mover today, but I’ll come to that.
New Zealand terms of trade and Australian manufacturing PMI kicked the session off, but with little currency impact beyond minor wiggles. Yen moves were more notable then, with USD/JPY moving above 111 in the Tokyo morning. We got better than expected capex data for Q1 out of Japan, which argued for a more positive yen, but this wasn’t to be as it lost a little ground. A contributing factor to yen weakness may have been the international securities flows data for Japan, which confirmed a fifth successive week of Japanese buying of foreign bonds. USD/JPY has not managed to sustain above 111 and it soon calmed for a small range on the session.