ASIA-PAC FX UPDATE: DXY depressed and G10s take advantage

Analysis details (02:31)

In FX, DXY remains in a tight range above 106.50 but well within yesterday’s 106.08-107.25 parameter. EUR/USD is flat above 1.0350 after the pair notched a high of 1.0406 yesterday – a whisker away from the 200 DMA at 1.0412 today. GBP/USD outperforms following the unveiling of the Autumn budget, with the pair finding some resistance at 1.1900 during the APAC session. USD/JPY traded sideways just above 140.00 whilst BoJ Governor Kuroda reiterates recent remarks after Japanese Core CPI rose at the fastest pace since Feb 1982. Some downticks in the pair were seen following reports that North Korea’s suspected ICBM landed inside Japan’s EEZ. Antipodeans are also firmer with the NZD the G10 outperformer north of 0.6150 ahead of next week’s RBNZ policy announcement, whilst AUD/USD attempts to climb over 0.6700. The Yuan experienced some modest weakness after the Chinese cash open, with the PBoC again opting for a weaker-than-expected CNY fix.

18 Nov 2022 - 02:30- ForexEconomic Commentary- Source: Newsquawk