- Australian Dollar corrects lower having surged following RBA meeting
- Japanese Yen gains as Asian share prices pull back from monthly high
- Unexpected Chinese imports jump may stoke recovery in risk appetite
A lull in high-profile event risk made for a quiet overnight session for most major currencies. The Australian Dollar corrected lower having outperformed in the aftermath of the RBA monetary policy announcement in the prior session. The anti-risk Japanese Yen edged higher as Asian stocks pulled back after the MSCI Asia Pacific regional benchmark index hit a monthly high yesterday.
Looking ahead, the absence of top-tier news items on the docket is likely to keep sentiment trends at the forefront, with upbeat Chinese trade figures a possible catalyst for a recovery in risk appetite. Imports unexpectedly rose 5.1 percent year-on-year in May, the most since September 2014. Signs of firming demand in the world’s second-largest economy may stoke broad-based optimism, boosting commodity-bloc FX while capping Yen gains. Read More…