Mar. 7: Asian session
Asian shares rose as investors awaited American jobs data. MSCI Asia Pacific Index added 0.2%. Nikkei 225 added 0.8%.
USD/JPY slid a bit from yesterday’s high at 103.16 to the levels just below 103.00. US dollar is set to show its biggest weekly gain in three months versus the yen before the release of US payrolls data, with Federal Reserve officials reiterating the threshold for changing its stimulus tapering is high. According to New York Fed President William Dudley, although bad weather will hurt growth during the first quarter, it doesn’t prompt “a fundamental change in the outlook,” and “does not rise to the level where you change the taper path.”
AUD/USD opened the day at $0.9090 and consolidated within a narrow $0.9070/0.9110 range in Asia. Aussie was a little more active because of the RBA Governor's Glen Stevens testimony to the parliamentary economic committee. Stevens shook the markets by saying "AUD still high above $0.9000". NZD/USD strengthened to $0.8490 early Friday.
EUR/USD edged down a bit from Thursday’s high at $1.3873. Euro held near the 2-month high against the dollar on Friday, pausing in the wake of the ECB inspired rally. GBP/USD is trading in the $1.6740 area after spiking up to $1.6777 yesterday.