17 Feb 2015
Asian Recap: Aussie steals the show on neutral RBA minutes
FXStreet (Mumbai) - The Australian dollar emerged as a clear winner across the board in the Asian trading, while USD/JPY remained choppy awaiting fresh cues from Bank of Japan’s (BOJ) monetary policy statement due tomorrow. EUR/USD remained cautious amid uncertainties surrounding Greece’s bail-out talks.
AUD/USD traded lower around 0.7765 levels at the Tokyo open with the Aussie offered slightly before RBA minutes. Post the minutes released, the Aussie dipped to session lows at 0.7743 levels and later quickly rebounded to 0.7780 levels. The Aussie was gradually bid higher towards late-Asian session as traders digested the minutes which restated that a lower AUD/USD was required to stimulate the OZ economy and would also put upward pressure on prices over time. AUD/USD extended gains and jumped to fresh session highs at 0.7809, breaking above 0.7800 levels. The pair continues to remain supported above 0.7800 levels.
USD/JPY fairly remained in a range in the Asian session, falling to session lows at 118.24, as USD bears took charge and the pair was offered at Tokyo open. USD/JPY recouped losses and edge higher around 118.50 levels and consolidated above that levels for the rest of the session before climbing to fresh session highs at 118.64 towards the late-Asian session. The pair continues to trade cautious around 118.50 levels as traders now await BOJ statement tomorrow.
EUR/USD slipped to session lows at 1.1322 levels in early Asia after talks between Greece and euro zone finance ministers failed to reach a conclusion for the second time at their meeting last night, raising doubts about Greece's future in the Euro area. The euro remained pressured and traded around 1.1350 levels all through the session, finally reversed losses and marched towards fresh session highs at 1.1366 levels towards Asia close.
AUD/USD traded lower around 0.7765 levels at the Tokyo open with the Aussie offered slightly before RBA minutes. Post the minutes released, the Aussie dipped to session lows at 0.7743 levels and later quickly rebounded to 0.7780 levels. The Aussie was gradually bid higher towards late-Asian session as traders digested the minutes which restated that a lower AUD/USD was required to stimulate the OZ economy and would also put upward pressure on prices over time. AUD/USD extended gains and jumped to fresh session highs at 0.7809, breaking above 0.7800 levels. The pair continues to remain supported above 0.7800 levels.
USD/JPY fairly remained in a range in the Asian session, falling to session lows at 118.24, as USD bears took charge and the pair was offered at Tokyo open. USD/JPY recouped losses and edge higher around 118.50 levels and consolidated above that levels for the rest of the session before climbing to fresh session highs at 118.64 towards the late-Asian session. The pair continues to trade cautious around 118.50 levels as traders now await BOJ statement tomorrow.
EUR/USD slipped to session lows at 1.1322 levels in early Asia after talks between Greece and euro zone finance ministers failed to reach a conclusion for the second time at their meeting last night, raising doubts about Greece's future in the Euro area. The euro remained pressured and traded around 1.1350 levels all through the session, finally reversed losses and marched towards fresh session highs at 1.1366 levels towards Asia close.