Session recap: Yen big mover as it finally displays some upside mojo

FXstreet.com (Barcelona) - The Asian session has seen a resurgence in the Yen versus virtually every currency out there. However, there has been no clear pattern of risk-on or risk-off trading in the other major currencies.

Session Data Summary and Reactions

• New Zealand Westpac Consumer Survey came out showing a nice month over month gain – the NZD/USD has traded to the upside for the entire session off that news.
• Japanese Tankan Surveys came out good for the current quarter but the forecasts were below expectations – the Nikkei sold off before and after the news and the Yen has been on the rise throughout the session.
• HSBC Manufacturing PMI for China came in lower-than-expected – the China-sensitive Aussie Dollar sold off on the news (continuing its recent slide).

Main headlines in Asia:

BOJ Q4 Tankan results mostly positive

Gold opens modestly higher Monday after bounce on Friday. Is 1210.10 going to be tested?

AUD/USD falls to 0.8918 after China's PMI

Nikkei 225 testing bottom side of 2-week contraction wave

Flash: Market may be under-estimating pace of Fed taper - RBS