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03:05
01/14/19
01/14
03:05
01/14/19
03:05

FX Update: A risk-off theme underpinned the Yen while weighing on the Dollar bloc

FX Update: A risk-off theme underpinned the Yen while weighing on the Dollar bloc currencies. AUD-JPY, NZD-JPY and CAD-JPY are all showing gains of over 0.5%. This came with Asian stock markets and oil and other resource commodity prices tumbling after China trade data showed imports down 7.6% y/y in December while exports contracted 4.4% y/y. AUD-USD is posting its first down day since January 2, posting a two-session low at 0.7175. The Dollar has traded mixed, losing ground to the Yen but gaining modestly on the Euro. USD-JPY printed a two-session low at 108.04. EUR-USD carved out a three-session low at 1.1454. Analysts expect risk-off conditions will sustain into the European and American sessions.

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