Asia Summary and Highlights 7 January

Asia Session

Japan Fin Min Kato verbal intervenes to support the yen, with the usual jawboning. It is not uncommon for verbal intervention to surface as USD/JPY has been elevated after the Fed pivot in December. Apart from specific level, looking forward the pace of weakness will determine the intensity of jawboning or actual intervention. USD/JPY is trading higher at 0.32% at 158.07 

AUD/USD benefited from soft USD on Tuesday and has shrugged off sour regional sentiment. Both the Chinese and Hong Kong equities fell with HSI down around 2%. U.S. major equity indexes are slightly in the red. The AUD/USD is trading 0.22% higher at 0.6259, NZD/USD is also 0.3% higher at 0.5659 while USD/CAD slipped 0.06%. Else, EUR/USD is up 0.02% and GBP/USD is up 0.08%.