FOREX NEWS

ForexLive Asia FX news wrap: USD loses ground – ForexLive


Forex news for Asia trading
for Tuesday
5
January 2021

After
gaining through the US session the US dollar gave back ground here in
Asia for the session, with advances notably for the Australian and
New Zealand dollars, but gains also across the major FX board.

News
of note during the session was the NYSE backtracking on its decision
to delist three huge China telco firms, they will remain listed for
trade. This
news was preceded by a few hours by the US Treasury ‘clarifying’
Trump’s executive order (of
more than six weeks ago!)
prohibiting US entities from investing in Chinese companies
controlled by the Chinese military – Treasury saying the order did
not require existing holding be divested. There is more in the
(bolded) bullets above.

News
also of relevance for the crypto complex – the US Treasury (or
a division of it, the Office
of Comptroller of the Currency) will
allow US banks blockchain settlement (there is more to it than this,
again see bullets above).

Coronavirus
news
was, once again, dour: UK lockdown #3 was announced during US time,
while Asia say continued to see dribbles of news about a potential
tightening in Japan.

The
PBOC revalued the onshore yuan by more than 1% today, its biggest
one-day revaluation since 2005.

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