Asia Summary and Highlights 19 August
Japan's LDP will hold its leadership election on September 27
Asia Session
USD continues to be broadly soft on Monday's Asia session with U.S. Treasury yields slowly eroding opening gains. After the Japanese PM's announcement of not pursing another term, the Japan's LDP will hold its leadership election on September 27. 10yr JGB yields are refreshing last week's high at 0.9%. USD/JPY dropped by 0.65% to 146.56, the losses were accelerated in Tokyo lunch time.
The antipodeans are benefiting from softer USD and positive risk mood on Monday. Regional equities, except Nikkei and Topix, are in the green, so as U.S. three major equity indexes. Major pairs open a few pips lower, in favor of the USD but those were quickly closed and see major currency outperforming the greenback. AUD/USD is trading 0.31% higher at 0.6690 and NZD/USD is 0.48% higher at 0.6083 while USD/CAD slipped 0.05%. Else, EUR/USD is up 0.12% and GBP/USD is up 0.08%.