Aug. 4: Asian session
Asian stocks swung between gains and losses as investors weighed a smaller-than-forecast increase in US payrolls and the bailout of a Portuguese bank. The greenback held gains versus developed-market peers before data tomorrow predicted to show growth in services accelerated.
USD/JPY edged up to 102.68. AUD/USD strengthened to $0.9330, extending recovery from the Friday's $0.9275 low. Australian retail sales came well above the forecast, rising by 0.6% in June. RBA policy meeting is scheduled for tomorrow, so upbeat retail data supports the market expectations of holding rates unchanged. NZD/USD consolidates in a narrow $0.8500/20 range.
EUR/USD declined to $1.3420. GBP/USD is trading on the downside in the $1.6820 area.