Asian markets fell early on Monday in spite of the positive close from Wall street last week. The Dollar edged up as investors turned their attention to U.S. tax reform ahead of a busy week with data on the health of the world’s biggest economies. Chinese shares were lower following Thursday’s slump and the Korean market weighed by heavy losses for Samsung Electronics.
EURUSD hit a two-month high against the US dollar thanks to strong German business confidence and reduced anxiety about political instability in Europe’s biggest economy. Currently the Euro is net unchanged for the session and is currently trading at 1.1933 after falling to lows of around 1.1910. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 92.77. The yield on 10-year Treasuries was steady at 2.34 percent.
AUDUSD is currently down 0.2 percent partially recovering from session lows of 0.7593, Currently the Aussie is seen trading around 0.7607 against the US dollar. Australia’s 10-year yield rose two basis points to 2.52 percent. The New Zealand dollar followed a similar price action on Monday and is currently trading around 0.6966 as the kiwi lost 0.2 percent against the USD.
USDJPY is currently seen trading around 111.35 down from session highs of 111.70 as the Yen strengthened against the US Dollar after Chinese shares opened lower. The Nikkei Stock average Nikkei 225 erased gains to slip 0.30 percent after rising as much as 0.5 % early in the session. The Yen rebounding against the USD weighed on equities….
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