Exchange Rate: Asian trades in a good mood as USD weakens

April 9, 2019 | Tuesday



Tuesday's trade in Asia experienced a safe sail in two-way businesses. That mostly led by the widespread risky mood within the weakening USD. However, most major currencies trap in snug trading ranges caused by the absence of economic drivers and emerging risk on trade.

At one hand, the Yen recovers as new US-EU tariff threats came along with Japanese sanctions on North Korea. That tacked-off USD/JPY as it returns to 111.30/28 region.

On the other hand, its downside came as it recovers late in its risk sentiment. That reflects in Asian equities and Treasury yields. At the same time, making a risk rest, getting Antipodeans caught in a new bid-upbeat Australian data in house financing with steady performances.

Meanwhile, the GBP/USD heads backward on trial of its two-week tops 1.1275, not much threatened by the tariff talks.

The returns within the risk sentiments for the late-Asia mostly boosts by the continuous bullish mood on the oil prices. Crude benchmarks still within the 2019 highs with the ongoing Libyan civil crisis and expectations on the tighter markets. Moreover, Comex gold prices steady traded close at 1303 levels.

Elsewhere, there are bids rising ahead of the 1.1250 support zone in EUR/USD pair during early Asia. That brings moderate bounces towards its two-month high at about 1.1276. Even so, the bulls taking its chances as it consolidates close to 1.1265 level going for the European trades.

Meanwhile, on GBP/USD pair, buyers are leaning towards 1.300 ahead of the Brexit talks. However, there are still final results needed from the cross-party talks including the European Union summit for guaranteed position on that level.


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