April 7: Asian session
The expectations for the new week determined currency dynamics during the Asian session. US dollar remained stronger against the euro following a 3-week rally before the US central bank releases minutes this week of the Federal Open Market Committee’s March meeting. Federal Reserve Bank of St. Louis President James Bullard is due to speak today. EUR/USD is trading at $1.3700 after dipping to $1.3672 on Friday. GBP/USD opened with a small gap down and is capped by resistance in the $1.6580 area.
USD/JPY slid to 103.00. Yen gained on demand for haven assets and as stocks declined. MSCI Asia Pacific Index lost 0.5%. Japanese Nikkei slid by 1.9%. AUD/USD met resistance at $0.9300 and edged down to $0.9275. Australia’s dollar fell with a report predicted to show on April 10 that Australian jobless rate rose. NZD/USD is trading on the upside in the $0.8600 area.