Asian equity markets were mostly muted early on Wednesday as investors remain cautious before the U.S. Federal Reserve’s policy announcement coming at the conclusion of the two-day meeting and another fresh round of geopolitical tensions after U.S. President Donald Trump threatened to annihilate North Korea.
EUR/USD gained 20+ points for the session but Price action was mostly subdued as Asian investors waited on the side-lines ahead of the FOMC. Price is currently seen trading at 1.2003 as the US Dollar weakened and lost 0.1 percent against the Euro. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 91.74.
USD/JPY is currently seen trading steadily around 110.50 as the Yen gained 0.1% against the USD, Similar to Yesterday’s Asian session the yen was mostly seen ranging between 111.40 to 111.60 earlier today with no major movements. There were reports mentioning Japanese PM Abe is going to abandon his goal of achieving a primary budget surplus in 2020.
AUDUSD managed to break above round number 0.80 against the US Dollar on Tuesday and has managed to stay above the round number, The Aussie is currently seen ranging around 0.8020 with no major movements in today’s Asian session. The New Zealand dollar is currently seen trading around 0.73031 as the Kiwi lost over 40 pips against the US Dollar after rising to highs of 0.7342 earlier in the session.
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