USD/JPY
dropped a little lower during the session with Asia morning lows just
under 135.20. Its not much above there as I update.
Across
major FX movement was subdued, especially following the huge shunt
higher for the US dollar in Tuesday trade. AUD/USD popped above
0.6800 in a small range. NZD, GBP are also up a few ticks against the
dollar. EUR/USD is barely changed on the day.
The
People’s Bank of China weakened the onshore yuan at the reference
rate setting today, much weaker (i.e. higher USD/CNY) than was
expected.
Oil
recovered a few dollars but has since dropped back to circa $100
again.
Data
flow was non-existent. News flow was light also.
The
Shanghai Composite slipped. COVID cases in China are rising a little,
triggering some (light at this stage) restrictions.
Oil update: