Session Recap: USD and Yen both weaken

FXstreet.com (Barcelona) - USD had a positive start in early Asia-Pacific following the NY close but once again found strong resistance around the 81.50 level of DXY spot index, retracing thus far to current 81.42, with EUR/USD printing fresh session highs at 1.3313 last.

Yen has also weakened across the board including against USD, currently testing session highs for second time around the strong technical resistance at 97.40 USD/JPY, following not as bad as expected core machinery order in Japan and BoJ meeting minutes.

AUD/USD posted fresh session and weekly lows at the 0.91 figure on worse than expected Australia confidence data, but has since recovered to last 0.9131, still below session highs at 0.9150. Local share markets trade in the green overall with the Shanghai Composite exception, while Gold eases to $1335 and Oil posts fresh session highs above the $106.

Main headlines in the Asian Session:

United Kingdom July RICS Housing Price Balance improves to 36% vs 21%

Nikkei reports that Japanese PM Abe is considering a corporate tax cut

Yen short trade revival subject to Japan's sales tax chatter...

BoJ Minutes: economy picking up, CPI to keep upward trend

Japan Machinery Orders (YoY) down to 4.9% in June from 16.5%

Business Survey for July: Business conditions remain at 4 year lows

Reserve Bank of New Zealand has not yet decided to implement LVR restrictions