investingLive Asia-Pacific FX news wrap: Trump still pushing for Nvidia H200 chip to China

Forex Short News

The yen weakened in early Tokyo trading, with USD/JPY pushing above 155.50 before easing after a strong long-end JGB auction. Japanese government bonds initially sold off across the 5-, 10-, 20- and 30-year sectors, but recovered much of the move after the 30-year sale delivered its highest bid-to-cover since 2019 and a markedly tighter tail, signalling resilient demand for duration. The 30-year yield fell to 3.385%, down 3.5 bps, helping steady broader sentiment after recent volatility.

Bank of Japan Governor Ueda told parliament that monetary conditions remain accommodative, even after recent adjustments, but stressed uncertainty about how far the BOJ can ultimately raise rates given the wide range of estimates for Japan’s neutral rate. His comments offered little guidance on the terminal level but reinforced that further tightening soon remains possible, but not yet assured.

The Australian dollar edged higher both before and after data showed household spending jumped by the most in nearly two years in October. The ABS said discounting drove a 1.7% rise in goods spending, while services increased 0.8%, supporting a firmer domestic demand backdrop.

In geopolitics and tech, the Financial Times reported that President Trump is preparing a high-level meeting to decide whether to allow Nvidia to export its H200 chip to China. Nvidia is likely to welcome the move. The FT added that the administration is not planning major new export controls, easing some industry concerns around US–China tech policy.

Asia-Pac
stocks:

  • Japan
    (Nikkei 225) %
  • Hong
    Kong (Hang Seng) %
  • Shanghai
    Composite %
  • Australia
    (S&P/ASX 200) %

This article was written by Eamonn Sheridan at investinglive.com.