ForexLive Asia-Pacific FX news wrap: USD/JPY a little lower on the day

Session wrap
  • Forex news for Asian trading on Thursday, 6 July 2023
Eamonn Sheridan

Eamonn Sheridan

Thursday, 06/07/2023 | 03:00 GMT-0

06/07/2023 | 03:00 GMT-0

It
was a narrow range day for major FX during the Asia session.

The
data agenda was very light, with a widening of Australia’s trade
surplus reported for May and a swing to net foreign buying of
Japanese stocks in the week to July 1.

Federal
Reserve Bank of New York President John Williams spoke
early in the session (see bullets above), saying the June Federal
Open Market Committee (FOMC) pause was the correct call but that the
Committee may have to raise rates again, data-dependent.

The
People’s Bank of China set the USD/CNY reference rate much lower
than was expected, again (i.e. a stronger CNY). The offshore yuan
swung around on the news but has since come back to be little changed
on the day.

USD/JPY drifted lower, there was no commentary out of Japanese officials at all so far today:

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Source: https://www.forexlive.com/news/forexlive-asia-pacific-fx-news-wrap-usdjpy-a-little-lower-on-the-day-20230706/

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