Currency Analyst since 2010

Jan. 24: Asian session

Asian shares fell to a 4-1/2-month low extending yesterday’s weakness as disappointing Chinese manufacturing data raised concerns over the economy, and investors sought safety in gold and Japanese yen. MSCI broadest index of Asia-Pacific shares outside Japan fell by 0.5%. Japanese Nikkei dropped by 1.5%.

USD/JPY is trading in the 103.15 area after it lost about 103 pips yesterday. AUD/USD tested levels below $0.8700. NZD/USD fell to $0.8246.  

EUR/USD is trading a bit on the downside, just below $1.3700. GBP/USD is trading in the $1.6630 area close to the highest level since May 2011 reached yesterday.

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