Asia pacific equity markets opened higher on Friday tracking overnight gains in Wall street. Investors gained confidence amid strong U.S. earnings and a step forward in Congress on U.S. tax reform brightened the mood. The dollar declined against major peers and Treasury yields dropped.
USDJPY is currently seen trading around 112.52 hitting its lowest level in almost a month as the Yen gained 0.5 percent against the US Dollar. The Yen gained after reports emerged regarding North Korea 'aggressive' work on ballistic missile submarine. The Nikkei 225 Stock Average is currently up 0.15 percent, trimming a gain of 1.8 percent earlier. The Nikkei gave back some its morning pop as the Yen strengthened.
EURUSD is currently edging back near its one-month peak as the EUR gained 0.4 percent against the US Dollar and is currently seen trading around 1.1807. The dollar index, which tracks the dollar against a basket of currencies fell over 0.3 percent and is currently valued at 93.61. The yield on 10-year Treasuries fell one basis points to 2.36 percent after adding five basis points on Thursday.
AUDUSD dropped from the session highs of over 0.7607 lost close to 40 pips creating fresh session lows of 0.7567 losing 40 pips. Currently the Aussie is seen trading around 0.7572 against the US Dollar. Australia’s 10-year bond yield was steady at 2.58 percent, close to where it was on Friday a week ago. The kiwi followed a similar pattern losing close to 40 pips and is currently seen trading around 0.6842 against the US Dollar down from session highs of over 0.6883
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