ForexLive Asia-Pacific FX news wrap: USD/JPY has a small bounce

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News
flow was very light during the session.
</p><p>The
better US CPI report continued to impact on financial markets in
Asia. Regional equity markets rose following the data and the
positive Wall Street response.</p><p>FX
markets were more subdued though. EUR, AUD, NZD, GBP all gained
small. The big moves came during the US time zone.</p><p>USD/JPY
dropped to lows under 138.20 briefly but rebounded to above 138.60.
There was no news nor data from Japan of note.</p><p>As
I post this markets locally are awaiting Chinese trade data for the
June 2023 month. Exports and imports are both expected to have fallen
from May.
</p><p>Asian
equity markets:</p><ul><li><p>
Japan’s
Nikkei 225 +1.3%</p></li><li><p>
China’s
Shanghai Composite +0.7%</p></li><li><p>
Hong
Kong’s Hang Seng 2.3%</p></li><li><p>
South
Korea’s KOSPI +0.9%</p></li><li><p>
Australia’s
S&amp;P/ASX 200 +1.4%
</p></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.