After the huge losses for the US dollar after the cooler-than-expected CPI report for October we had retracement moves here in the Asian timezone. EU
After
the huge losses for the US dollar after the cooler-than-expected CPI
report for October we had retracement moves here in the Asian
timezone. EUR, AUD, GBP, NZD; all fell back somewhat against the big dollar.
But
the yen was particularly notable. USD/JPY rose to circa 142.48. We
had remarks out of Japan, both Finance Minster Suzuki and his
underling, head of FX at the Ministry, Kanda, to the effect of not
wanting rapid FX moves – the usual sort of lower-tier verbal
intervention.
There
was very little impactful news nor data during the timezone. The
focus was on digesting the US CPI data from Thursday. There were
developments in the crypto space as the reverberations from the FTX
implosion continued. Notably,
crypto platform BlockFi announced that it would halt withdrawals,
blaming “lack of clarity” on FTX and its affiliated
companies.
news.google.com