Forex News for Trading in Asia Friday August 28, 2020
After Powell’s speech and the response during the US time zone, there was little movement here during the Asian session. A quick scan of the major FX charts will show that the Yen has continued its weakness somewhat, with USD / JPY tracking above 106.80 and helping the Yen rise slightly.
EUR / USD and Cable also added a few points. AUD and NZD, even CAD, all also ticking for the better against the USD.
The data and news flow was light and didn’t have much impact. We have seen the Tokyo region inflation data for August (see points above), which will be another disappointment for the BOJ. The national CPI for Japan follows in 3 weeks.
The American Republican Convention concluded with Trump’s acceptance of the nomination, of course. Trump spoke in his usual way, he said there would be a vaccine soon, maybe even before the end of the year. He also threatened China, said he would stop depending on the country once and for all.