Forex and Bitcoin news for Asia trading Friday 25 May 2018
Yet again yen and its crosses were the mover in Asia today. Overnight news that US President Trump had pulled out of the planned summit with North Korea’s Kim Jong-Un did not result with gains for the yen here in Asia perhaps the news was reflected fully in the rate response during the US session.
USD/JPY traded higher in Tokyo time, from circa 109.25 and thereabouts its managed to stack on a bit of a gain today, to highs around 109.70 before resting now around 109.55-odd. We did get some data supportive of a lower yen (Tokyo CPI was a miss on all 3 measures) but there was no immediate FX response – nevertheless a move in the indicated direction did come after a pause.
There was little other impactful news, US Commerce Sec. Ross has been reported as intending to travel to China for further trade discussions (June 2 to 4), a positive development 9or, as I said earlier, at least not negative).
Other currencies were a little mixed but generally a wee bit softer against the USD. EUR, CHF, CAD, AUD, GBP all a few tics down against the buck. NZD is little net changed (OK, down a wee tickle).
Gold, too, a little softer as is oil. There was further talk of the potential lifting of supply curbs by OPEC/non-OPEC in June (and, just for clarity, the oil price is down mere cents here in Asia trade – so there wasn;t too much in it).
Still to come: