Forexlive Asia-pacific FX news wrap for Monday 30 December 2024 - holiday trade persists ...Middle East

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It was a fairly subdued session with unofficial holidays thinning out interest and trading activity.

People's Bank of China Governor Pan Gongsheng indicated the Band has room to lower rates. As I noted at the time a contraint the Bank is facing is the weak yuan. Further reducing rates will be viewed by the Bank as raising the likelihood of further capital movement out of the country, which they'd prefer to avoid.

USD/JPY update, tracking just below 158.00:

As I post BTC/USD remains under US$94K.

This article was written by Eamonn Sheridan at www.forexlive.com.

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