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27 Aug 2013
Session Recap: Yen higher as Syrian tensions escalate; USD steady below 81.40 DXY
FXstreet.com (Barcelona) - The USD/JPY dipped to a fresh 3-day low at 98.03 in early Tokyo trading as a military attack to Syria from the US might come sooner than expected according to latest media reports, last taking the pair to 98.32, still below the Asia-Pacific opening levels and in the negative for the week so far.
AUD/USD and Kiwi were both also hit badly to fresh weekly lows at 0.8967 and 0.7805 USD respectively, while EUR/USD stays flat at 1.3374 ahead of German Ifo Business climate, off session highs at 1.3391. Gold also eased $10 from its double high at $1407 printed at the highs of the USD short sell-off.
Local share markets look weak overall, with US equity futures posting fresh weekly lows following the NY close, although almost all of them have reversed loses and now sit on modest gains, Nikkei index up +0.19%. Oil keeps capped below the $107 handle, with no news reported during the Asian session hours.
Main headlines in the Asian Session:
Moody’s say adjustment in Euro-area periphery is continuing, but pre-crisis GDP unlikely in medium term
Recap – US Treasury Secretary Lew: Says US to reach debt limit by mid-October
RBNZ to hike by Q1 2014 despite LVR restrictions - Westpac
CNBC: Larry Summers will likely be named chairman of the Federal Reserve in a few weeks
Yen buying picks up as Obama orders up report to justify Syria strike
Japan’s finance minister Aso: Says Abe will make tax decision after hearing experts’ opinions
China vice finance minister says he is confident of achieving 7.5% growth rate in 2013
US State Department has postponed an August 28 meeting with Russia on Syria
AUD/USD and Kiwi were both also hit badly to fresh weekly lows at 0.8967 and 0.7805 USD respectively, while EUR/USD stays flat at 1.3374 ahead of German Ifo Business climate, off session highs at 1.3391. Gold also eased $10 from its double high at $1407 printed at the highs of the USD short sell-off.
Local share markets look weak overall, with US equity futures posting fresh weekly lows following the NY close, although almost all of them have reversed loses and now sit on modest gains, Nikkei index up +0.19%. Oil keeps capped below the $107 handle, with no news reported during the Asian session hours.
Main headlines in the Asian Session:
Moody’s say adjustment in Euro-area periphery is continuing, but pre-crisis GDP unlikely in medium term
Recap – US Treasury Secretary Lew: Says US to reach debt limit by mid-October
RBNZ to hike by Q1 2014 despite LVR restrictions - Westpac
CNBC: Larry Summers will likely be named chairman of the Federal Reserve in a few weeks
Yen buying picks up as Obama orders up report to justify Syria strike
Japan’s finance minister Aso: Says Abe will make tax decision after hearing experts’ opinions
China vice finance minister says he is confident of achieving 7.5% growth rate in 2013
US State Department has postponed an August 28 meeting with Russia on Syria