Currency Analyst since 2010

Aug. 7: Asian session

Asian shares outside of Japan fell as tensions mounted over Ukraine. Russian President Vladimir Putin yesterday ordered restrictions on imports for one year from countries that have imposed or supported sanctions against Russia. The MSCI Asia Pacific Index dropped 0.4%.

AUD/USD dropped by more than 100 pips, hitting the lowest level since early May ($0.9260). Australian labor market came much worse than expected with unemployment rising by 0.4% to 6.4% and employment falling by 0.3K (forecast: +13.5). NZD/USD weakened to $0.8450, but holds above the yesterday’s low of $0.8420.

USD/JPY rose to 102.45 as Nikkei 225 is up by 0.22%. EUR/USD is trading in the $1.3380 area. GBP/USD is little changed in the $1.6850 zone.

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