Feb. 27: Asian session
Asian shares tried to find a base today. Japanese Nikkei is down by 0.46%. MSCI’s broadest index of Asia-Pacific shares outside Japan is almost flat after initial losses. Risk sentiment deteriorated amid tensions in Ukraine. The greenback was near a 2-week high against a basket of its major peers before the Fed’s Chairwoman Janet Yellen speaks today amid prospects the central bank will continue to scale down its bond purchases.
USD/JPY is little changed in the 102.30 area. AUD/USD has recovered a little after a 50 pips drop to $0.8920 earlier in the session. Aussie weakened as Q4 capital expenditure in the country unexpectedly fell by 5.2% (forecast: -1.0%; prior: 2.6%). What’s more, Chinese yuan is weakening for a third day, extending the overall uncertainty. NZD/USD is trading in the positive zone around $0.8320 after the yesterday’s dip to $0.8280.
EUR/USD edged up to levels just below $1.3700 after hitting $1.3661 yesterday. GBP/USD is little changed below $1.6700.