ForexLive Asia FX news wrap: USD loses some ground – ForexLive

Forex news for Asia trading
for Wednesday
January 2021

session of slow and little-impactful news in Asia but nevertheless
movement for currencies against the USD. Currencies are broadly
stronger, although ranges are not large.

up against the USD but has
been an under-performer in
light of a Bloomberg piece on ECB YCC (see bullets above). 

tracked higher to circa 0.7725 (GVP, NZD, CAD all higher also) but
has dipped a few points from there coinciding with comments out of
China opposing US statements on Xinjian (see bullets above) and
previous highs for the pair in the region of 0.7720/25 (short-term

PBOC added the most cash to the country’s financial system today in
4 months to help assuage any liquidity constraints with tax payments
due (19
to 22 January). The 7 day repo rate climbed for a 6th
day to 2.5% and its highest since mid-November last year.

a heads up – US President Biden will be issuing executive orders from
5.15pm local time (2215 GMT). Indications
have already been given he will be cancelling Keystone but there
could be other day-one moves pending also. 

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