ForexLive Asia-Pacific FX news wrap: US Senate near to a deal to extend funding

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News
and data flow was very light indeed during the session here. As I am
writing the news is crossing that US Senate Republican and Democrat
negotiators are nearing a deal on a short-term spending measure
intended to keep the government open after October 1st.
The measure is a stop-gap for 4 to 6 weeks of funding. Apart from
that there isn’t anything fresh at all on the news front.</p><p>From
Japan we had some lacklustre verbal intervention comments aimed at
supporting the JPY. USD/JPY is barely off its session high (in a tiny
range) so these haven’t weighed too much on the pair.
</p><p>From
the People’s Bank of China we had a record high divergence between
the modelled estimate for the USD/CNY reference rate setting and the
actual. See bullets above for more on this.
</p><p>Federal
Reserve Bank of Minneapolis President Neel Kashkari said he is in the
‘one more Fed Funds rate hike this year’ camp.
</p><p>Asian
equity markets:</p><ul><li><p>
Japan’s
Nikkei 225 -0.9%</p></li><li><p>
China’s
Shanghai Composite -0.1%</p></li><li><p>
Hong
Kong’s Hang Seng -0.6%</p></li><li><p>
South
Korea’s KOSPI -1.2%</p></li><li><p>
Australia’s
S&amp;P/ASX 200 -0.6%
</p></li></ul><p>USD/JPY is a picture of pent-up energy ready to burst …</p>

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