USD/JPY back above 144.20

The US dollar is broadly higher against Asian FX despite the People’s Bank of China setting USD/CNY at its strongest (for the CNY) since April 7.

USD/JPY has added to its earlier gains:

I posted earlier:

• Hong Kong central bank intervenes in the Hong Kong dollar

And last week conveyed the analysis of Goldman Sachs looking for stronger Asia FX:

• Its not just gold – Goldman Sachs says Asian currencies to benefit from USD losing status

Which played out:

• MUFG on the Taiwan dollar move a “19-standard-deviation event”
• Surging TWD fuelling revaluation talk

Volatility will continue in Asis FX.

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