Asia Summary and Highlights 9 July
Missiles Flying
Asia Session
In the latest round of missiles exchange, the U.S. has targeted Iranian infrastructure, including bridges. It mark a critical escalation since the beginning of the week as Iran vows to retaliate and kept pressuring U.S. bases in the region. U.S. major equity indexes are keeping their cool while regional equities perform individually. AUD/USD is trading 0.09% higher at 0.6937 while NZD/USD continue to capitalize on post RBNZ strength to trade 0.44% higher. USD/CAD slips 0.07% with oil taking a breather.
USD/JPY paused just short before the July high as USD softens on more hopeful risk mood. No doubt missiles are still flying but market participants are choosing to believe Trump said "Iranians calling" rhetoric, even we viewed it with a big pint of salt. USD/JPY is trading 0.09% lower at 162.43. Else, EUR/USD is up 0.09% and GBP/USD is up 0.08%.