USDJPY continued to fall, testing a low of 97.09 today and driving cross JPY through technical levels. The move in JPY pushed the Nikkei down 2%. Equity markets elsewhere were mixed with the Kospi down 1%, S&P futures down 0.2%, but Shanghai and the Singapore Straits Times are up 0.3% and 0.4%.
NZD maintained overnight gains but AUD has started to creep lower to 0.896 after several failed attempts to test 0.900. The EUR and GBP are also inching lower. USDINR opened at 61.22 after falling to a low of 60.80 overnight on news of Rajan’s appointment as RBI Governor.
Read the full report: Market Research
Credit Suisse