Currency Analyst since 2010

July 8: Asian session


USD/JPY tested 101.68 on the downside. Yen remained higher after strengthening yesterday after Japan reported a bigger-than-expected current-account surplus. In addition, US stock futures point to declines in the S&P 500.

AUD/USD edged up to $0.9395. Aussie rose after a private gauge of business confidence climbed last month to match the highest level since January.

After an initial dip NZD/USD rose to $0.8770. New Zealand’s dollar reversed earlier declines that came after a report showed business sentiment dropped to a 15-month low.

EUR/USD is flat in the $1.3600 area. GBP/USD tested $1.7147, but then returned to the opening level of $1.7126.

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