205
Currency Analyst since 2010

May 30: Asian session

Nikkei 225 is down by 0.2%. MSCI Asia Pacific stock index lost 0.1%, butheaded for its biggest monthly gain (3.4%) since September.

USD/JPY declined to 101.50 approaching yesterday’s low at 101.42. Yen strengthened as a government report showed inflation accelerated to 3.2%, the fastest in more than 20 years in April from 1.3% in March, reducing the prospect of additional stimulus by the Bank of Japan.

Demand for the commodity currencies in Asia was pretty high. AUD/USD extends the recovery on Friday, touching $0.9330 in the session – this is the highest level since May 20. NZD/USD recovered to $0.8515 following the yesterday’s dip to $0.8450. New Zealand building consents growth slowed from 9.2% to 1.5% in April. Gold price consolidates slightly above the yesterday’s low of $1251.4.

EUR/USD is trading in the $1.3605 area. GBP/USD rose a bit, to $1.6738.

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