Asia Summary and Highlights 4 Aug

Asia Session

USD/JPY recovered minor Friday's losses amid Japanese equities indexes falling more than 1%. There hasn't been much headline so the move seems to be flow driven and follow through selling for the Japanese equities. USD/JPY is trading 0.28% higher at 147.78 after opening almost 20 pips lower as JGB yields lags behind U.S. Treasury yields significantly.

The broader risk atmosphere improves on Monday as major equity indexes, except Japan, recover from lower opening gaps and partially recovering Friday's losses. There is little update regarding Trump's tariff nor U.S.-Russia tension.  The AUD/USD is trading 0.21% higher at 0.6482 with private inflation survey shows a 0.8% jump m/m. NZD/USD is trading 0.02% at 0.5915 while USD/CAD slips 0.13%. Else, EUR/USD is down 0.06% and GBP/USD is up 0.02%. Major currency all opened higher against the USD with those gaps closed at least once in the Asia session.