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Currency Analyst since 2010

Sep. 2: Asian session

Asian shares slipped on Tuesday as a US holiday robbed markets of momentum. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.6% after rising on the previous day.

USD/JPY soared to 104.86. Yen weakened before Prime Minister Shinzo Abe announces a new cabinet tomorrow.

AUD/USD fell to $0.9285. The Reserve Bank of Australia kept its key interest rate at a record low to support growth and said an overvalued currency is hampering the economy’s transition away from mining investment. NZD/USD fell to $0.8340.

EUR/USD is trading in the $1.3130/20 area. Euro hit a fresh 1-year low on uncertainty over the ECB’s policy decision later this week. GBP/USD slid below $1.6600.

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