Dollar keeps in a firmer spot to start the day

<p>There was some pushing and pulling yesterday but overall, the dollar is keeping steadier so far in the new week. Looking at the events so far today, we saw a stronger Chinese yuan fix by the PBOC but that has been well offset by a rather poor trade balance report <a href="https://www.forexlive.com/news/china-trade-balance-for-july-usd-806-billion-versus-expected-usd-706-billion-20230808/" target="_blank" rel="follow">here</a>. The yuan currency is once again weaker and that is weighing slightly on the antipodeans as well.</p><p>As for the dollar, it is looking in a decent spot with gains across the board. USD/JPY in particular is up 0.6% to 143.35 at the highs for the day:</p><p>The pair will be looking to contest the highs from last week next, with the high point being at 143.88, before looking towards 145.00 again.</p><p>The yen itself is not able to take in too much comfort from a rebound in bond yields yesterday, also not helped by the fact that the BOJ looks to be drawing a line in 10-year JGB yields at around 0.65% from last week.</p><p>Besides that, EUR/USD is down 0.2% to 1.0980 while AUD/USD is down 0.5% to 0.6540 with the latter still looking poised for a test of 0.6500 next in all likelihood.</p>

This article was written by Justin Low at www.forexlive.com.