Asia Summary and Highlights 24 Jul

Asia Session

US Treasury Secretary Bessent threatens Japan with 25% tariff if Trump is unhappy. The remark came just one day after Trump announced the U.S.-Japan deal. This remark seems to carry some political weight to persuade the Japanese parliament to pass the deal. USD/JPY is trading 0.31% lower at 146.04 with JGB outperform U.S. Treasury Yields.

RBA Governor Bullock's remark regarding inflation seems to be less dovish than most expected. It seems to be prompting the anticipation of an imminent rate cut from the RBA to dissipate.  AUD/USD is trading 0.2% higher at 0.6619 with regional equities outperforming U.S. equities, NZD/USD is trading 0.12% higher at 0.6053 while USD/CAD rises 0.05%. Else, EUR/USD is up 0.06% and GBP/USD is down 0.02%.