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Currency Analyst since 2010

April 15: Asian session

Asian shares fluctuated on Tuesday after upbeat US retail sales data helped Wall Street bounce from a sharp selloff in recent days, though tensions in Ukraine tempered demand for riskier assets. In addition, Chinese equities tumbled after a report showed new credit fell, underscoring risks of a deepening slowdown in the world’s second-biggest economy. MSCI Asia Pacific Index fell less than 0.1%. Nikkei is up by 0.87%.

USD/JPY is trading just below 102.00. US dollar gained for a second day versus most of its major peers before a manufacturing gauge that’s forecast to show improvement for a second month. EUR/USD is trading on the downside in the $1.3815 area. GBP/USD slid to $1.6711.

Commodity currencies lost some ground in Asia on the back of increased China woes. AUD/USD is trading under pressure around $0.9390. RBA April policy minutes were released today. The regulator repeated the Aussie is overvalued by historical standards. Technically, the pair is forming a short-term triangle (H4). NZD/USD dropped to $0.8650. Gold fell to $1323.

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