FOREX NEWS

ForexLive Asia FX news wrap: USD higher – ForexLive


Forex news for Asia trading
for Friday
29
January 2021

There
was a risk off tone during Asia trade with a higher USD and lower
overnight equity index futures trade. Crypto, though, was it own
world, with moves higher for BTC and DOGE.

Sticking
with FX, concerns are mounting about the South African strain of
coronavirus, with Novavax reporting around a headline
90%
efficacy for its vaccine in Phase 3 trials but only circa 60% against
the SA variant.

USD/JPY
rose above 104.50 while EUR, AUD, NZD, GBP, CHF, CAD all lost ground
against the USD also. Oil was on the heavy side while gold managed to
track sideways.

Short-term
borrowing costs in China rose higher with the promises of easier
conditions ahead of Lunar New Year holidays still yet to come to
fruition.

News
crossed late in the US afternoon that Robinhood had drawn on credit
lines to manage liquidity, amounts reported in the ‘hundreds of
millions’. 

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