ForexLive Asia-Pacific FX news wrap: US yields weigh on US dollar. Separately, BTC soars.

<ul><li><a href="https://www.forexlive.com/news/morgan-stanleys-wilson-remains-comfortable-with-year-end-3900-sp500-target-20231024/">Morgan Stanley's Wilson "remains comfortable" with year-end 3900 S&amp;P500 target</a></li><li><a href="https://www.forexlive.com/news/toyota-near-solid-state-battery-breakthrough-1200-km-range-10-min-charge-20231024/">Toyota near solid-state battery breakthrough: 1,200-km range, 10-min charge</a></li><li><a href="https://www.forexlive.com/news/moodys-see-weak-fundamentals-in-chinas-property-sector-as-a-weight-in-next-12-18-months-20231024/">Moody's see weak fundamentals in China's property sector as a weight in next 12-18 months</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-america-expect-fomc-hold-in-november-a-close-call-december-interest-rate-hike-20231024/">Bank of America expect FOMC hold in November &amp; a 'close call' December interest rate hike</a></li><li><a href="https://www.forexlive.com/news/first-meeting-of-china-us-economic-working-group-candid-and-constructive-discussions-20231024/">First meeting of China – US economic working group, candid and constructive discussions</a></li><li><a href="https://www.forexlive.com/news/icymi-china-set-to-approve-1-trln-yuan-in-additional-sovereign-debt-issuance-today-20231024/">ICYMI – China set to approve 1 trln yuan in additional sovereign debt issuance today</a></li><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-central-rate-at-71786-vs-estimate-at-72992-20231024/">PBOC sets USD/ CNY central rate at 7.1786 (vs. estimate at 7.2992)</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-announces-an-unscheduled-jgb-buying-operation-20231024/">Bank of Japan announces an unscheduled JGB buying operation</a></li><li><a href="https://www.forexlive.com/news/the-economic-calendar-for-europe-uk-us-on-tuesday-is-a-sea-of-red-plenty-of-key-data-20231024/">The economic calendar for Europe, UK &amp; US on Tuesday is a sea of red – plenty of key data</a></li><li><a href="https://www.forexlive.com/news/japan-looks-set-to-extend-fuel-and-utility-price-subsidies-through-to-end-april-2024-20231024/">Japan looks set to extend fuel and utility price subsidies through to end April 2024</a></li><li><a href="https://www.forexlive.com/news/japan-jibun-preliminary-manufacturing-pmi-for-october-485-prior-485-20231024/">Japan Jibun preliminary manufacturing PMI for October 48.5 (prior 48.5)</a></li><li><a href="https://www.forexlive.com/news/us-equites-blackrock-says-there-is-too-much-optimism-about-corporate-earnings-20231024/">US equites – BlackRock says there is too much optimism about corporate earnings</a></li><li><a href="https://www.forexlive.com/news/not-fx-mcdonalds-is-giving-away-free-fries-every-friday-for-the-rest-of-the-year-20231024/">Not FX – McDonald’s is giving away free fries every Friday for the rest of the year</a></li><li><a href="https://www.forexlive.com/news/fake-reports-incoming-of-an-attack-on-us-navy-ship-carney-no-attack-happened-20231023/">Fake reports incoming of an attack on US Navy ship Carney – no attack happened</a></li><li><a href="https://www.forexlive.com/news/south-korea-looking-to-africa-to-secure-graphite-as-china-tightens-export-controls-20231023/">South Korea looking to Africa to secure graphite as China tightens export controls</a></li><li><a href="https://www.forexlive.com/centralbank/the-good-news-bad-news-preview-of-australia-cpi-data-due-wednesday-20231023/">The good news / bad news preview of Australia CPI data due Wednesday</a></li><li><a href="https://www.forexlive.com/news/australian-data-anz-roy-morgan-consumer-confidence-index-782-prior-764-20231023/">Australian data – ANZ-Roy Morgan consumer confidence index 78.2 (prior 76.4)</a></li><li><a href="https://www.forexlive.com/news/white-house-national-security-spokesman-kirby-says-not-the-time-for-israel-hamas-ceasefire-20231023/">White House national security spokesman Kirby says not the time for Israel-Hamas ceasefire</a></li><li><a href="https://www.forexlive.com/Cryptocurrency/bitcoin-higher-again-above-us32k-20231023/">Bitcoin higher again, above US$32K</a></li><li><a href="https://www.forexlive.com/centralbank/aud-traders-heads-up-reserve-bank-of-australia-governor-bullock-speaks-later-on-tuesday-20231023/">AUD traders heads up – Reserve Bank of Australia Governor Bullock speaks later on Tuesday</a></li><li><a href="https://www.forexlive.com/news/australia-preliminary-pmi-manufacturing-480-prior-487-services-476-prior-518-20231023/">Australia preliminary PMI: Manufacturing 48.0 (prior 48.7) &amp; Services 47.6 (prior 51.8)</a></li><li><a href="https://www.forexlive.com/centralbank/aud-traders-nab-says-cpi-data-to-be-higher-than-rba-expects-forecast-november-rate-hike-20231023/">AUD traders – NAB says CPI data to be higher than RBA expects, forecast November rate hike</a></li><li><a href="https://www.forexlive.com/news/icymi-chinas-sovereign-wealth-fund-bought-etfs-to-prop-up-puking-stock-market-20231023/">ICYMI – China's sovereign wealth fund bought ETFs to prop up puking stock market</a></li><li><a href="https://www.forexlive.com/news/reports-that-attacks-continuing-on-us-base-in-syria-20231023/">Reports that attacks continuing on US base in Syria</a></li><li><a href="https://www.forexlive.com/news/china-set-to-approve-circa-us137billion-in-additional-sovereign-debt-issuance-on-tuesday-20231023/">China set to approve circa US$137billion in additional sovereign debt issuance on Tuesday</a></li><li><a href="https://www.forexlive.com/news/there-is-some-talk-that-us-bases-in-syria-and-nearby-have-been-attacked-20231023/">There is some talk that US bases in Syria and nearby have been hit (update: fake news)</a></li><li><a href="https://www.forexlive.com/news/media-reports-that-putin-had-a-heart-attack-20231023/">Media reports that Putin had a heart attack</a></li><li><a href="https://www.forexlive.com/news/sp-closes-below-200-day-ma-for-the-2nd-day-in-a-row-20231023/">S&amp;P closes below 200 day MA for the 2nd day in a row</a></li><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-us-10-year-yields-tag-5-then-reverse-20231023/">Forexlive Americas FX news wrap: US 10-year yields tag 5% then reverse</a></li></ul><p>
Bitcoin
rocketed higher during the session here, carrying on its gains from
Monday. The prospect of Bitcoin ETFs has lit a fire under the price.
BTC/USD hit US$35K during the session here, its highest since May of
2022.
</p><p>More
broadly the USD lost ground, also carrying on its Monday move. All
major FX, including the hapless yen, rose vs. the big dollar. Lower
US yields, after the 10-year tickled 5%, are the weight on the USD.
</p><p>Otherwise
news and data flow was limited here. We had preliminary PMIs from
Australia and Japan, none of these were encouraging (see bullets
above).</p><p>Bitcoin update:</p>

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