Asia-Pacific equity markets fell early on Monday mainly due to the slide in Euro after German Chancellor Angela Merkel’s push to form a coalition government collapsed. In addition to this, Investor sentiment was hurt by a retreat on Wall Street last Friday and sliding Chinese stocks after regulators unveiled a fresh initiative to curb shadow banking.
USDJPY is mostly unchanged, currently seen trading around 112.05 after falling to lows of 111.89 earlier in the day. The Nikkei Stock average fell 0.6% as the euro hit two-month lows against the yen. The euro’s slide helped push up the yen, a haven, and as a result pressured Japanese stocks after they logged last week their first weekly decline since early September.
EURUSD fell to lows of below 1.1725 earlier in the session as the EUR lost 0.5 percent against the US Dollar. Currently the Euro is seen trading at 1.1737. The dollar index, which tracks the dollar against a basket of currencies was up 0.3 % and is currently valued at 93.97. The yield on 10-year Treasuries fell about two basis points to 2.32 percent.
AUDUSD opened a little lower early on Monday reaching lows of 0.7550 but has since recovered and is currently seen trading above 0.7565. Australia’s 10-year yield dipped three basis point 2.54 percent. The New Zealand dollar followed a similar price action on Monday and is currently trading around 0.6835 down from lows under 0.6800
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