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June 23: Asian session

Asian shares extended a 6-week gain as a private report showed Chinese manufacturing unexpectedly expanded (HSBC Manufacturing PMI came at 50.8 vs. the forecast of 49.7). US dollar weakened versus its peers before data this week that may show US manufacturing and new home sales slowed, supporting the case for the Federal Reserve to hold rates near zero.

AUD/USD jumped from $0.9370 to $0.9440 in the session, inspired by the upbeat Chinese PMI data. NZD/USD strengthened by 40 pips to $0.8740, hitting a fresh monthly high. Market expectations for the RBNZ July rate hike are mounting. Gold price consolidates around $0.9315, forming a triangle on the hourly chart.

USD/JPY slid to 101.90.The Bank of Japan’s Governor Kuroda’s due to speak at 06:00 GMT. The Japanese government is considering bringing forward cabinet approval of its growth strategy and basic economic plan to tomorrow from June 27, Kyodo News reported on June 19, citing a government source.

EUR/USD rose a bit above $1.3600. GBP/USD went up to $1.7040.

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