Yen back on the bids in Asia, FOMC minutes – Key event

By FXStreet FXStreet (Mumbai) – The US dollar kept its bullish momentum intact in a data-deficient Asian session today, with all eyes focused on the upcoming FOMC minutes later in the day. The Japanese currency outperformed all the majors and staged a solid comeback from weekly lows versus its American rival.

Key headlines in Asia

French police in shootout with suspect in Paris

Gold sits at 5-yr low, Dec Fed rate hike inevitable

Dominating themes in Asia – centered on JPY, AUD, NZD

The yen emerged the best performer so far among the G10 currencies and jumped back on the bids, as the JPY bulls stood resilient to the persisting broad USD strength. USD/JPY trades -0.11% lower at fresh session lows of 123.30. The major is seen correcting heavy correcting heavy gains booked yesterday after the US CPI report-backed rally to 123.50 levels. The renewed upward rally in the yen can be attributed to the latest news on Pairs shootout that unnerved markets again. Investors flocked to the safe-haven – the yen after worries resurfaced over Paris attacks after media reported shooting during police operation on northern part of Paris.

While the Antipodeans trade mixed, with the NZD jumping back on the bids and extending …read more

Source:: FX Street