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July 15: Asian session

Asian shares rose for the second day after Citigroup Inc. reported better-than-forecast profit, boosting confidence that earnings growth can sustain further gains in shares. The MSCI Asia Pacific Index advanced 0.4%. Nikkei 225 is up by 0.8%.

USD/JPY edged up to 101.60. Japanese yen was little changed as the Bank of Japan maintained record monetary stimulus. US dollar remained higher against the yen following its biggest one-day advance in a week before the Fed’s Chair Janet Yellen testifies before US lawmakers today and tomorrow.

Commodity currencies remained almost unchanged during the session. AUD/USD consolidates in a tight $0.9380/9400 range after the RBA minutes reiterated recent statements, giving no new information for traders. NZD/USD sits in the narrow $0.8800/15 range. Kiwi dollar slipped from the recent highs hit last week.

EUR/USD is little changed in the $1.3617 area. GBP/USD has frozen at $1.7080.

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