Asia Summary and Highlights 19 August
UAE formally halted all trade, commercial and financial transactions with Iran
Asia Session
Korean equities are taking the spotlight on Wednesday. It once again hit the circuit break of more than 5% losses, more losses are pending as the Korean index is taking a breathe. Regional equities are also underperforming U.S. equities, though the late is in the red. AUD/USD is trading 0.17% lower at 0.7074 with Q2 wage banging in estimates. NZD/USD is trading 0.05% lower while USD/CAD slips 0.11% with oil higher.
It is reported that UAE has formally halted all trade, commercial and financial transactions with Iran. The UAE seems to be joining forces with U.S. in the economics front to maximize non-military pressure. USD/JPY is trading 0.11% lower at 159.43. Else, EUR/USD and GBP/USD are up 0.05%.