Currency Analyst since 2010

June 20: Asian session

MSCI Asia Pacific Index slid 0.1%, but Asian shares still hold near the 6-year high. Nikkei is up by 0.1%. US dollar doesn’t feel very confident versus its peers before US data due next week which economists forecast will show manufacturing activity cooled and the economy shrank.

USD/JPY slid to 101.80. AUD/USD is trading above $0.9400, below yesterday’s peak at $0.9431. NZD/USD edged up to $0.8720. Gold headed for the longest run of weekly advances since March after rising to a 2-month high, as expectations that borrowing costs in the US will remain low fueled demand for bullion as an alternative investment.

EUR/USD rose to $1.3624, but is trading below yesterday’s peak at $1.3643. GBP/USD rose to $1.7050 after reaching $1.7062 yesterday.

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