Forex news for Asia trading Tuesday 19 September, 2017

Minutes of the September Reserve Bank of Australia meeting were the focus in Asia today. The minutes provided a snapshot of the Bank's thinking on the day of the meeting, and it was pretty much 'more of the same':

  • Growth in employment ... but still slow growth in wages
  • Low inflation
  • Domestic economic data still leaning positive ... "gradual pickup" in line with forecast
  • AUD weighing on growth and inflation, RBA not wanting it higher

The Australian dollar responded with a pop to above 0.7900 (after having crawled a little higher during the morning into the announcement) before dropping back under 0.7970.

Currency movement elsewhere was similarly restrained. USD/JPY chopped around 111.40/60 for the session with little to provide impetus. The Bank of Japan meet this week with the market expecting little fresh.

EUR/USD eked out a 20-odd point gain at one stage; again, little to drive it. USD/CHF is little changed while cable has managed a small gain.

After the USD/CAD move higher in the North American time zone, it continued its retrace in early Asia but popped a little from circa 1.2275 lows.

NZD/USD sneaked a few points higher throughout the session, the countdown is on into Saturday's election:

Still to come today:

More;

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