Greenback gives up early Asian revenues against yen
On Wednesday, during Asia trade the evergreen buck gave up its early revenues against the Japanese yen, following a light regional data day with investors closely watching the US dollar for sharp divergence as key majors such as the British pound, the Japanese yen and the common currency set on further monetary easing paths.
The currency pair USD/JPY traded at 106.96, down 0.16%. Meanwhile, AUD/USD was worth 0.7502, showing a 0.08% dip. At the same time, GBP/USD was worth 1.3074, tumbling 0.29%, while the common currency versus the greenback traded at 1.1010, sagging 0.10%.
In Australia, June’s MI leading index came in at a sag of 0.2%, with the previous figure demonstrating a 0.2% revenue month-on-month.
The outlook signaled by the major index appears to be more consistent with Westpac's forecast for growth holding still approximately a 3% pace over the next year. Additionally, the Reserve Bank is going to update its forecasts for growth as well as inflation in August for the quarterly Statement on Monetary Policy and this financial institution has dropped a hint that it might lower the cash rate if the updated outlook needs a change in stance.