Asian equities fluctuated early on Monday as market participants struggled for direction after U.S. and European central bankers didn’t provide fresh policy guidance. U.S. equity futures fell as investors weighed the damage from Tropical Storm Harvey on U.S. oil refining centres.
AUDUSD opened on a weak note but soon gathered a bit of steam. The Aussie moved up to post a 25 pip from its early low against the US Dollar halting its gain around 0.7950. Currently price has slipped back down to 0.7930 losing 20 pips from the high. NZD/USD followed a similar pattern as is currently seen trading at 0.72350
EURUSD reached 1.1965 early on Monday, the highest since Jan. 6, 2015 following the Jackson Hole speeches. However, price did not extend further as Asian liquidity came online and the EUR retraced some of their early pop. Currently the Euro has slipped to back around 1.2915.
USDJPY is currently seen trading at 109.10 after ranging between 109.15 and 109.40 early on Monday. Overall, the yen advanced 0.2 percent against the US dollar, extending gains from Friday.
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