Asia Recap: A 'wingless' Kiwi, a resilient Yen

By FXstreet.com | July 16, 2014 AAA

FXStreet (Bali) - The Japanese Yen was the top performer in Asia, while the Kiwi continued to trade heavy near weekly lows.

On the fundamental space, low-profile events failed to move currencies. In New Zealand, s/adjusted adverts were up 5.7% in June vs previous month, 17.3% from one year ago, according to an ANZ survey. In Australia, the NAB business confidence for Q2 came at 6 vs 7 in Q2.

USD/JPY was rejected off 1.1.70-90 supply zone, taking the exchange rate for a 20 pips ride lower towards 101.50 session low, where bids contained further declines. The Nikkei 225 traded flat for a second consecutive day.

AUD/USD failed to extend the rebound off 0.9330-40 demand area, with last US session highs at 0.9370 leading to a minor setback towards 0.9350-55.

NZD/USD was also heavy, with traders not committing to buy the pair on the deep setback seen this week, on the back of lower-than-expected NZ CPI numbers and dairy auctions.

The rest of G10 currencies vs USD traded in small ranges ahead of the European session, in which the final EZ CPI reading will take center stage.

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