ForexLive Asia FX news wrap: BTC drop under US$33K

Forex
news for Asia trading on
Tuesday
8
June 2021

Biden’s
national security adviser, Jake Sullivan spoke
at a White
House press briefing saying
that BTC would be brought up at the G7 summit this coming weekend,
perhaps by US President Biden himself, with a focus on getting an
action plan on the increase in ransomware attacks. BTC/USD dropped
from around $35.5K to, as I update, lows under $33K now.

The
Canadian dollar inched a little higher on the news that Canada is set
to loosen its quarantine rules for vaccinated travellers. USD/CAD
dribbled down to around 1.2074 or so and has since moved back up a
little higher. The Australian dollar fell against the USD net for the
session, not by much, despite the latest National Australia Bank
Business Survey showing business conditions hitting their highest on
record (confidnece did fall a few points though). China’s tabloid
state mouthpiece tweeted out advice for Australia to diversity its
iron ore exports away from China (see bullets above).

USD/JPY
traded higher into the Tokyo fix and has drifted more or less
sideways since. Cable is a few points lower with some news about of a
‘trade war’ threat from the EU (see bullets above).

Gold
and oil are both a little lower on the session also.