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Currency Analyst since 2010

Aug. 29: Asian session

FXBAZOOKA.com  -  Asian stocks fell as the geopolitical risk flared again. The United States on Thursday openly accused Russia of sending combat forces into Ukraine and threatened to tighten economic sanctions.

USD/JPY rose to 103.85 as Japan released discouraging economic data. Japanese household spending fell more than expected, the jobless rate edged up and factory output remained weak in July after plunging last month.

EUR/USD edged down towards $1.3170. GBP/USD is trading a bit on the downside, in the $1.6580 area.

NZD/USD dipped to $0.8350 before recovering to $0.8370. New Zealand building consents rose by only 0.1% in July versus 3.5% expected, while the ANZ Business Confidence index diminished from 39.7 to 24.4. AUD/USD consolidates in a narrow $0.9345/60 range following the yesterday’s quick spike to $0.9370.

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