Asia Summary and Highlights 11 September
UKMTO says four projectiles hit two vessels near Oman's Khasab
And suspected strike on Saudi Arabia's East-West pipeline
Asia Session
Risk of escalation in the Middle East continues to rise. It is reported that vessels near Oman's Khasab are hit by projectiles and the Houthi's have attacked Saudi Arabia's East-West pipeline. The next round of conflict could begin in Yemen as both sides want to regain tactical advantage of another sea route for oil flows. Oil retraced partial Thursday's gains. AUD/USD is trading 0.1% higher, NZD/USD gained 0.52% while USD/CAD rises 0.05%.
With a strong anticipation of September rate hike, market participants will likely be disappointed by the lack of commitment from the BoJ towards next week. Reuter sources likely confirmed that as it suggest Ueda will avoid getting himself to the corner, yet it will mean a fast collapse for the JPY on announcement. USD/JPY is trading 0.07% lower at 154.32 with rising yields across the JGB curve. Else, EUR/USD and GBP/USD are down 0.03%.