Forexlive Asia-pacific FX news wrap May 26

FOMC minutes released Wednesday afternoon in the US helped push US equities higher and undermined USD strength somewhat.

Regional stocks here in Asia however did not have much following, a mixed performance while the FX front was also mixed.

USD/JPY pulled away a bit early but briefly back above 127.50. EUR, GBP, AUD, NZD, CAD all gained against the dollar in the morning (the yen crosses in particular were the subject of a bid) but all gave it back more or less .

On the central banking front, we had testimony from the Reserve Bank of New Zealand in Parliament. RBNZ Governor Orr continued his hawkish message from yesterday.

In the data, we had Australian investment for the first quarter, a disappointing headline but bright spots in the data on equipment and machinery spending as well as private capital spending ahead (the estimate 2 for the 2022-23 expenditure is up by more than 11% compared to the estimate 1).

DXY candles 10 minutes: