Asia Summary and Highlights 23 July
USD/JPY dipped another half a percent without catalyst
Vice President Harris has secured enough delegates
Asia Session
It is a rather empty economic calendar day with little headlines. The only one we got is Vice President K. Harris has secured enough delegates to be racing against Trump. U.S. Treasury Yields are lower across the curve while JGB yields rise. USD/JPY is trading 0.4% lower at 156.37, which may suggest the turn for JPY has arrived.
Global risk sentiment is broadly soft. The Aussie is further dragged lower by weak consumer sentiment to trade 0.12% lower against the USD at 0.6634, NZD/USD is down 0.19% to 0.5967 while USD/CAD rose 0.05%. Else, EUR/USD is up 0.02% and GBP/USD down 0.03%.
North American session
With little fresh news it was a quiet session. USD/JPY saw a modest recovery from European lows to trade marginally above 157. AUD and CAD lost ground early on which was mostly sustained in the case of AUD/USD which remained below .6650 but largely reversed in the case of USD/CAD, which settled near 1.3750. EUR/USD held a narrow range near 1.0885. EUR/GBP ended little changed but EUR/CHF advanced to a high of .8690. Equities were firmer, and UST yields saw modest gains.