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

News
flow was very light during the session.

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.

FX
markets were more subdued though. EUR, AUD, NZD, GBP all gained
small. The big moves came during the US time zone.

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.

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.

Asian
equity markets:

• Japan’s
  Nikkei 225 +1.3%

• China’s
  Shanghai Composite +0.7%

• Hong
  Kong’s Hang Seng 2.3%

• South
  Korea’s KOSPI +0.9%

• Australia’s
  S&P/ASX 200 +1.4%