Asia Summary and Highlights 1 September
Trump vow to hit Iran hard in response and reports of a Saudi VLCC halted after being struck by projectiles in the Strait of Hormuz
Asia Session
USD/JPY is staying below 160 on Tuesday as market participants quietly waits for the next cue. The market is looking for strong commitment from the BoJ to hike rates. JGB yields are frontrunning that decision with 2/10yr refreshing high and 30yr close to May high. USD/JPY is trading 0.09% higher at 159.88.
The fiasco between U.S. and Iran persists as both sides are playing hardball again. More disruption is expected and we are seeing oil price gaining more than half a USD/b. Major equity indexes are soft with precious metal also lower. AUD/USD is trading 0.03% higher at 0.7169. NZD/USD is trading 0.13% lower while USD/CAD also 0.08% higher. Else, EUR/USD down 0.08% and GBP/USD down 0.02%.