Asian traders nudge USD down amid risk aversion sentiment (09.11.2017)

The global trading day started with interesting market moves on Forex.
The tensions on the Korean peninsula again rattled the market. Having touched the resistance level of 114.00, the dollar/yen pair retraced to 113.50, the lower border of the trading range.
China’s leader Xi Jinping stated that cooperation between Beijing and Washington is a crucial matter to ensure peace, stability, and development both in the Pacific region and worldwide. Besides, Donald Trump and Xi Jinping came to terms to cement a partnership in cyber security and military relations. Now investors are braced for North Korea’s response to these decisions.
China's consumer inflation accelerated in October, rising to a nine-month high that came as a pleasant surprise to investors. China’s consumer prices edged up 0.1% in October on a monthly basis. The annual pace of inflation increased to 1.9%. Producer prices also showed a positive dynamic.
This data aroused risk sentiment among traders and encouraged the Australian dollar to rebound to previous highs. The AUD/USD pair closed the Asian trade at 0.7690.
The New Zealand dollar also gained ground against its American counterpart. The NZD/USD pair has nearly approached a two-week high of 0.70 despite outcome of the policy meeting of the Reserve Bank of New Zealand.
New Zealand’s central bank decided to leave the official cash rate unchanged, warning of inflation uncertainty in the country. The regulator said that fiscal stimulus from a new Labour-led government and a weaker currency would leat to faster consumer inflation. 
Currency analysts expect the US dollar to go through a weakening phase on the back of uncertainty around Donald Trump’s tax reform. Meanwhile, market participants are anticipating a meeting between the US President and his Russian counterpart Vladimir Putin on the sidelines of an economic summit in Vietnam on Friday.

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