XE Market Analysis: Asia – Feb 18, 2019

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AUD-JPY has been the biggest mover in a day of directionally challenged markets, with North American markets absent and participants waiting on progress from the U.S.-China trade talks, which will resume for an extended second week in Washington after terminating in Beijing last week with “progress” but without resolution. AUD-JPY settled off highs, but with a moderate 0.3% gain. The cross printed a two-session high at 79.19, while AUD-USD posted a 13-day high, at 0.7160. The gains reflect optimism about China, which is the export-oriented Australian economy’s biggest client.