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ForexLive Asia-Pacific FX news wrap: USD/JPY takes a quick peek under 154.00

Two
Fed officials spoke during the session here today. Mester and Bowman
both warned of inflation not yet at a point where the Fed can cut.
Mester wants to see more certainty on the trajectory lower while
Bowman went as far as to say that while current monetary policy is
restrictive, time will tell if it is “sufficiently”
restrictive. A hawkish comment.

Australian
jobs data was the next significant event, showing a tick higher for
unemployment, though smaller than expected. The labour market remains
tight, but its loosening a touch. The data today will not rush the
RBA into a rate cut. The Bank remains very focused on getting the CPI
back to target and there is still a ways to go.

AUD
and NZD drew a few bids today, a stable yuan didn’t hurt. EUR,
CHF, CAD and GBP are also slightly higher against the USD.

From
Japan we heard more on efforts with the US, South Korea, and others,
to address the super strong US dollar that is so impacting JPY, KRW
and others. Japan’s Finance Ministry’s Vice Finance Minister for
International Affairs Kanda, the official who will instruct the BOJ
to intervene when he judges it necessary, crossed
the wires with numerous comments aimed at supporting the yen. At one
stage USD/JPY touched lows back (just) under 154.00, but only
briefly. As I post its around 154.26 and not a lot net changed on the
session.

Bank
of Japan board member Noguchi spoke.

This article was written by Eamonn Sheridan at www.forexlive.com.

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