Yen and Aussie drop further in Asia

On Monday, the Japanese yen kept sagging further during Asia trade along with the Australian dollar. It’s because the greenback gained some wind at its back on policymaker comments from Fed Vice Chair Stanley Fischer hailing the American economy ahead of a speech later in the week by the Fed governor.

The currency pair USD/JPY traded at 100.72, up 0.51%. At the same time AUD/USD was worth 0.7593, tumbling 0.46%.

The US dollar index, traditionally measuring the greenback’s strength against a trade-weighted basket of six key currencies, climbed up 0.34%, hitting 94.80.

In the upcoming week, the focus will be on a highly anticipated speech delivered by Federal Reserve Chair Janet Yellen. The given speech is expected to bring fresh signs on the timing of the next American rate lift.

Besides this, traders will also pay attention to Tuesday’s poll data on euro zone business activity for new indications on the overall health of the region's economy in wake of the UK’s vote to exit the European Union earlier in the summer.



Losing steam
Equities appear to be struggling into the end of the year as yesterday obsession, whether the Dow could hit 20,000 not coming to fruition. That will no doubt continue today, but the upward momentum is likely to struggle as liquidity ebbs away from markets during the last few trading days of the year...
Gold prices bounced off the 10-month lows
Gold traded within narrow consolidation above fresh low at 1122 on Friday. Prices bounced off 1120 and advanced to the 1140 resistance region where the recovery stalled and the pair declined back to 1130 dollars per ounce...
Gold moved higher
Gold attempted to recover on Wednesday albeit remained around 10-month low. The price recovered from 1165 and was able to break 1170 post-Europe open. However, the upward impetus stalled at 1178 where the pair spent the rest of the European session...

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