Currency Analyst since 2010

June 25: Asian session

Asian shares fell on Wednesday, echoing losses on Wall Street as concerns about escalating violence in Iraq eclipsed stronger economic data. MSCI’s broadest index of Asia-Pacific shares outside Japan fell about 0.4%, while Japan’s Nikkei stock average lost 0.5%.

Commodity currencies are trading under a slight bearish pressure following the yesterday’s sharp selloff on strong US data. AUD/USD trades to the downside with a support seen at $0.9350. NZD/USD bounced 15 pips up from $0.8660. Gold remains under selling pressure as well.

USD/JPY slid to 101.85. EUR/USD is trading just above $1.3600. GBP/USD slid to $1.6970.

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