Currency Analyst since 2010

Aug. 6: Asian session


Asian shares fell after US equities dropped to a 2-month low amid escalating tensions in Ukraine as Russian President Vladimir Putin ordered a response to US and European sanctions. MSCI Asia Pacific Index dropped 0.7%. Japanese Nikkei 225 slid by more than 1%.

USD/JPY is trading in the 102.55 area after it peaked yesterday to 102.90. EUR/USD edged down to the recent lows at $1.3360. GBP/USD slid by 20 pips from $1.6880.

NZD/USD extended the decline to $0.8430 after the weak dairy auction. Even a lower-than-expected unemployment rate (5.6% vs. 5.8% forecasted) couldn’t prevent the kiwi from falling. NZ employment growth slowed to 0.4% in June (forecast: 0.7%). AUD/USD consolidates in a narrow $0.9300/9290 range.

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