New Zealand PPI Output (QoQ) Q2: 0.2% (prev -0.2%)
Stats NZ: The change in employment in Q2 is influenced by both changes to the survey and by real increases in the number of people employed
Moody's affirms Australia at AAA; keeps stable outlook
Japan MOF Asakawa: If JPY moves too sharp, we must take action
PBOC Fixes Yuan Reference Rate at 6.6056 (prev 6.6305)
USD/JPY managed to recover overnight and rose from 100.10 to over 101. The pair was supported by slightly better than expected US economic data yesterday, but also by verbal intervention from Japanese officials. MOF's Asakawa was speaking overnight and stated that if "JPY moves too sharp, we must take action".
EUR/USD was quiet as usual and traded in a 1.1262-90 range. GBP/USD rallied after yesterday's stronger than anticipated CPI release. Overnight, it fell from 1.3070 to 1.3020 as the US Dollar regained some strength. The focus is now on UK employment data, which will be released today at 09:30 BST.
The Australian and New Zealand Dollar declined overnight. AUD/UD fell from 0.7710 to 0.7665 so far, while NZD/USD tumbled from 0.7320 to 0.7250. The NZD rallied initially after strong employment data, but StatsNZ noted that the decline in the unemployment rate has partially been the result of a change in the survey method.