Session Recap: USD stalls the decline around 81 DXY; China CPI disappoints

FXstreet.com (Barcelona) - The USD had an initial part of the last Asian trading session of the week well bid on the back of Yen weakness, with USD/JPY posting highs shy of the 97 handle, but coupled with some weak domestic data including worst tertiary industry activity for Japan in last 3 months, and hard Nikkei selling from session highs, it wasn't long till USD/JPY printed session lows at 96.30.

EUR/USD has remained inside a 15 pip range 1.3375/90 for last 8 hours, with Cable also totally flat around the 1.5540 level. AUD/USD saw some volatility around RBA statement and China CPI, chasing without succeed NY session weekly high at 0.9140, trading last around the 0.9108.

Gold has eased marginally to last $1311 while Oil remains bid above the $104. Local share markets are mixed with little movement either way. Nikkei is down -0.11%, while Hong-Kong's Hang-Seng is up +0.25%, and the Shanghai Composite loses -0.64%.

Main headlines in the Asian Session:

Fed’s Fisher: If economic data goes as the Fed forecasts, expect start of taper next month

Japan June Tertiary Industry Index (MoM) falls to -0.3% vs 1.2%

USD/JPY hammered below 97.00

China CPI in-line m/m and lower-than-expected y/y; PPI light as well

RBA Quarterly MP Statement: Inflation, demand provides room to cut further

No change in BoJ monetary policy for rest of 2013 – Nomura