FOREX NEWS

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


Forex news for Asia trading
for Wednesday
20
January 2021

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

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

AUD/USD
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
highs).

The
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.

And,
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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