Forex news for Asia trading Thursday 30 June 2016
FX rates traded in subdued fashion again today.
USD/JPY popped to 103 in the very early going but did not sustain its strength. Japanese exporters said to be big USD/JPY sellers around that level. As Tokyo markets became more active USD/JPY gave back 40-odd points, down to just under 102.65. There was little in the way Japan today, though we did get preliminary Industrial Production data for May, coming in at very bad miss indeed; April earthquakes, yen strength and global economy weakness (and thus a weight on Japanese export performance) all cited.