May 20: Asian session
After closing above 103.00 on Friday USD/JPY opened with a gap down to 102.00, but then returned to 102.90/60 area. Yen rose after Japan’s Economy Minister Akira Amari said further losses in the currency would negatively affect people and the government’s job is to minimize that.
AUD/USD is trading around $0.9785 after testing $0.9711 on Friday. NZD/USD is at $0.8120 after hitting $.8060 at the end of last week. Kiwi has managed to take off from the lows after its finance minister said home price gains will pressure the central bank to raise interest rates.
EUR/USD is trading in the $1.2820/50 range following the dip to $1.2800 on Friday on the positive US consumer sentiment data. GBP/USD holds right below the $1.5200 mark after having touched $1.5160 on Friday. USD/CAD slipped to 1.0275. On Friday the pair touched a new high at 1.0310, but failed to fix there. USD/CHF is once again below 0.9700.
The markets in Switzerland, Germany and France are closed for Whit Monday. Canada has a bank holiday due to the celebration of Victoria Day.