FXStreet (Mumbai) – A data-quiet Asian session with mixed price actions witnessed across the FX board. The US dollar rebounded from two-week lows reached versus its major rivals on Monday, hence driving USD/JPY higher beyond 123.50 levels. While the Antipodean currencies also staged a solid comeback from multi-year lows completely ignoring broad USD strength.
Key headlines in Asia
Dominating themes in Asia – centered on JPY, AUD, NZD
Absolutely dry Asian session with Asian equities extending their sell-off tracking negative close on Wall Street overnight amid China turmoil. While Chinese markets extended in the red for the third straight session, albeit recovered heavy losses seen at open. Shanghai composite index is losing nearly -1% at the moment.
On the FX space, the Kiwi led the rally in the entire antipodean complex, correcting higher towards 0.6650 levels after falling to fresh six-year lows recently. The Aussie clinched the 0.73 barrier, as traders locked-in gains on AUD shorts ahead of key FOMC decision due out on Wednesday.