Asia Summary and Highlights 12 August
JGB yields are marching higher
Major equity indexes are performing individually
Asia Session
JGB yields continue to rally, especially short end, on rising BoJ rate hike expectations. Some market participants may attribute such move from high energy price but they have likely misjudged how BoJ prefer their rate hikes. USD/JPY is still trading 0.10% higher at 159.41 as the BoJ hasn't committed to earlier rate hike yet.
Major equity indexes are performing individually as market participants are undecided about what to expect in the Middle East. Wishful thinkers will likely be left disappointed as no deal has surfaced so far. AUD/USD is trading 0.08% lower at 0.705. NZD/USD is trading 0.24% while USD/CAD rises 0.05%. Else, EUR/USD is down 0.05% and GBP/USD is down 0.02%.