Aug. 20: Asian session
FXBAZOOKA.com - US dollar strengthened on speculation the Fed is moving toward raising interest rates. Good US housing data helped Treasury yields get higher.
USD/JPY rose to 103.25 as Japanese trade deficit widened more than expected and the all industries activity contracted. AUD/USD slid to 102.78. The Reserve Bank of Australia Governor Glenn Stevens said that the central bank has decided to stick to its current policy for a time being and reiterated the risk of a material fall in the Australian dollar is “underestimated.” NZD/USD fell to 5-month low at $0.8370 as the greenback’s strength added to bearish factors including soft dairy prices and investor preference for the neighboring Aussie dollar.
EUR/USD declined to $1.3300. GBP/USD edged down to $1.6600.