Action in Asian majors overnight - Westpac

Analysts at Westoac noted the overnight action in the FX space across Asian majors.

Key Quotes:

"AUD/USD continued an orderly decline in London to 0.7202 (having briefly touched 0.7270 after Australia’s trade and retail sales data) but trimmed losses to around 0.7225/30 as US equities stabilized and then finished slightly higher. NZD/USD remained elevated in a 0.6780-0.6826 range. Westpac is not alone in switching its call on next week’s RBNZ meeting to no change, with pricing now about 25% chance of a cut to 2.0%. AUD/NZD continued to probe the downside, touching 1.0588 – a four-month low – before steadying just above 1.06.

USD/JPY remained under pressure in London, touching 108.53 before partly recovering to 108.85, the yen outperforming on the day."