Session Recap: Yen stronger, Aussie weaker, and USD little changed

FXstreet.com (Barcelona) - Local share markets played catch-up with US equities strong reversal, with Nikkei index up near +3%, Hang-Seng +1.12%, Australian ASX +1.62%, while Korean Kospi +0.32%, and Shanghai Composite +0.21%. Gold and Oil barely moved.

Big movers in currencies were Yen strengthening from USD/JPY around 96 to as low as 94.50, while Aussie weakened from around 0.9660 USD to as lows as 0.9580. EUR/USD eased to session lows near 1.3350 from session highs around 1.3380, thus leaving USD index mostly unchanged around DXY 82.70/5.

New Zealand posted positive economic results with better than expected PMI and Food price index, while BoJ minutes disappointed markets somehow, with the central bank noting economy is starting to pick up.

Main headlines in the Asian Session:

Fed watcher Hilsenrath says Fed anywhere near a rate hike

New Zealand Business NZ PMI up to 59.2 in May from 55.2

AUD/JPY trading near 200 day SMA around 92 for 1st time since Oct

Reserve Bank of New Zealand research: Drought will reduce 2013 annual GDP by 0.6%

BoJ Minutes: economy picking up

Japan’s economy minister Amari: Says wants to put Japan economy back on a sound path to growth

USD/JPY knocks on 94.50 session lows