The dollar had a mixed session. It managed to claw back some of Friday’s losses against the euro, assisted by euro-negative press commentary. Nevertheless, it was not all one-way dollar buying – NZDUSD set a post-floatation 26-year high after better than expected New Zealand trade data. EURUSD traded 1.4262-1.4334, USDJPY 80.72-81.02. Continue reading →

The dollar weakened sharply across the board during the Asia session. There was no clear driver behind the move, but the market does appear to be forming the opinion that Greece will eventually receive its next quarterly instalment of rescue funding from the EU/IMF, even if no decision on this is imminent. EURCHF and USDCHF hit new record lows. EURUSD traded 1.4111-1.4279, USDJPY 80.89-81.42. Continue reading →

The dollar weakened sharply across the board during the Asia session as risk appetite was boosted by a succession of moderately positive headlines. Australia and New Zealand both signalled they can live with currency strength, which invited buying of the AUD and the NZD. Also, USDCNY fixed at a new low. Finally, a local media report in New Zealand reported that China might be willing to invest up to NZ$6 bn in New Zealand assets. Most importantly, there was a lack of further worrying news from the Eurozone. EURUSD traded 1.4065-1.4173 and USDJPY 81.67-82.09. Continue reading →

Risk appetite took a turn for the worse during the Asia session, allowing the dollar to advance against the euro, the AUD, and the NZD in particular. EURUSD traded 1.4025-1.4127 and USDJPY 81.82-82.17. Continue reading →

The euro staged a modest recovery during the Asia session after a failed attempt to break back below 1.40. EURUSD traded 1.4002-1.4081 and USDJPY 81.77-82.09. Continue reading →

The euro continued to sell off during the Asia session amid signs that the Eurozone sovereign debt crisis is escalating again. Friday’s Eurozone headlines continued to haunt the euro overnight but, adding to the downside pressure, a weekend report in a Greek newspaper claimed that if the next quarterly instalment of EU/IMF funding is not released, Greece will run out of money by July 18. EURUSD traded 1.4065-1.4147 and USDJPY 81.59-82.02. Continue reading →

There was little in the way of market-moving headlines or economic data during the Asia session, which caused currencies to drift. The BoJ kept policy unchanged. EURUSD traded 1.4293-1.4337, USDJPY 81.47-81.79. Continue reading →

Risk appetite rose steadily for most of the Asia trading session, but took a turn for the worse as the start of the European session drew near. USDJPY made some upward progress after the FOMC minutes helped keep US yields supported. EURUSD traded 1.4212-1.4306, USDJPY 81.38-81.81. Continue reading →

The dollar weakened during the Asia session, despite the general absence of news. EU Council President Von Rompuy may have played a role in the dollar’s weakness however. He reminded markets that the greenback will likely lose its supreme reserve currency status in the distant future, noting that there will be a big change in the global FX landscape over the coming decades. EURUSD traded 1.4166-1.4287, USDJPY 80.98-81.59. Continue reading →

The dollar had a mixed session in Asia, rising against the yen, but weakening against the euro. The AUD was supported by hawkish RBA minutes, which signalled another rate hike is likely in the coming months. EURUSD traded in the 1.4130-1.4244 range, while USDJPY traded between 80.70 and 81.46. Continue reading →

The dollar stayed firm during the Asia session, and continued its advance against the euro, the yen, the AUD, and the NZD. EURUSD traded 1.4048-1.4107, USDJPY 80.64-81.07. There was little in the way of news from the open, but the weekend arrest of IMF Managing Director Dominique Strauss-Kahn is not helping sentiment, given the possible implications for today’s meeting of Eurozone finance ministers. Continue reading →