May 7: Asian session
USD/JPY slipped back below the 99.00 mark. Japanese banks opened after a 4-day weekend with yen strengthening on Japan Fin Min comments.
AUD/USD plummeted to $1.0180 as RBA cut its cash rate to the record low of 2.75%. Meanwhile, Australian trade balance showed surplus for the first time since Jan. 2012. NZD/USD fell below 0.8500.
EUR/USD is consolidating a bit below the $1.3100 mark. The single currency is slowly recovering from yesterday’s ECB Draghi’s dovish comments. GBP/USD is trading at $1.5540. USD/CAD remains below 1.0100.