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Forex pairs in this Article » USD/JPY
FXstreet.com (Barcelona) - Alvin Pontoh of TD Securities notes that ahead of the FOMC today, Asia-Pac equity markets outside of China pulled back following yesterday’s rally.

Key Quotes

“Currencies are range trading except for the AUD which continues to be under pressure, hitting a low of $US0.9013 in the morning session as August rate cut is now seen as a done deal (OIS 90%+ priced in).”

“Strong business confidence data out of New Zealand pushed AUDNZD to a fresh 5-year low of 1.1311 in the morning session.”

“The JPY is unchanged at ~98.0, while Southeast Asian EM currencies are marginally weaker against the dollar.”

“It’s a big day for US data and events with the ADP payrolls, Q2 GDP, and the FOMC back in the limelight. However, we do not anticipate anything new from the FOMC, though small tweaks are likely to be skewed to the dovish side.”
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