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ForexLive Asia FX news wrap: Some currency retracement in Asia – ForexLive


Forex news for Asia trading
for Friday 30
October 2020

After gains in the US timezone
the US dollar gave some ground back here in Asia today. There was
little in the way of impactful new news the FX moves were flow driven
and of a retracing nature.

AUD
and NZD both showed pops, but NZD/USD has given much of its back.
AUD/USD is holding near its session highs circa 0.7050.

EUR/USD
has tip-toed back towards 1.1700 but as I update has not yet hit the
figure. CAD is up a little also, Cable has been a laggard.

USD/JPY
and USD/CHF are both near session lows as I post.

There
was little fresh on the US election front. Polls show the gap between
Trump and Biden is not narrowing much, fairly steady but of course
some polling organisations are showing different to others. The
backdrop of coronavirus infections continues to darken, the l;aterst
Reuters tally has new confirmed cases as of Thursday evening above
91,000 for the day, smahsing the previous record high and still
accelerating. New
Orleans has been lashed by one of the strongest hurricanes to ever
pass over the city. Reports are as much as 80% of the city is without
power.

The
Chinese yuan clawed back some if its recent loss on the session here
today, coinciding with a press conference given by the Chinese
Communist Party outlining big picture policy goals coming out of the
plenum meeting that concluded Thursday. 

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