Asia-Pacific equity markets were mostly flat early on Wednesday struggling to hold on to gains following their record-smashing winning streak. Most Investors remained on the side-lines awaiting the unveiling of China's new leadership line-up. Strong lead in the Wall street and optimism in the world economy with encouraging earnings reports buoyed the dollar and bond yields.
USDJPY had a rather quiet session early on Wednesday trading within a small range. Currently the US Dollar is valued at 113.90 against the Japanese Yen as the dollar held onto overnight gains. Japan’s benchmark Nikkei 225 Index was up 0.15% valued at 21835.0, lifted by gains in shares of Japanese insurers and an overall weaker yen. The benchmark index is rising high after notching its 16th straight winning session on Tuesday — its longest ever win streak.
EURUSD is currently seen trading around 1.1756 with the Euro slightly lower on the day after climbing 0.1 percent against the US Dollar on Tuesday. Investors are expecting details on tapering in its quantitative easing program ahead of the European Central Bank's Thursday meeting. The dollar index, which tracks the dollar against a basket of currencies rose 0.2 percent and is currently valued at 93.98
AUDUSD has fallen sharply after data showed that Australian consumer prices were below the central bank’s target. AUDUSD is currently seen trading at 0.7719 as the Aussie lost 0.8 percent against the US Dollar. Australia’s 10-year yield was steady at 2.77 percent. The kiwi continued its downtrend creating fresh lows of 0.6881 sliding 0.3 percent against the US Dollar, Currently the NZDUSD is seen trading around 0.6900.
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