Aug. 19: Asian session
US dollar held gains against major peers as signs of economic recovery supported the case for the Fed to raise interest rates. Asian stocks rose after confidence in the US housing industry climbed to the highest level in 7 months and tensions eased over global political conflicts. USD/JPY edged up to 102.65.
AUD/USD rose to $0.9340. Australian dollar gained after the nation’s central bank reiterated a period of rates stability is prudent. NZD/USD slid from $0.8475 testing $0.8424. New Zealand’s currency fell for a third day after a producer-price index declined by 0.5% in Q2.
EUR/USD slid to the $1.3350 area. GBP/USD is trading on the downside, but managed to stay above $1.6700.