ForexLive Asia FX news wrap: Oil carries on rallying

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Forex news for Asia trading on Tuesday 28 September 2021 Brent and WTI both rose on the session (Monday evening US time, Asia morning), extending recent gains. This has provided a tailwind for CAD, with USD/CAD testing below 1.2620 again as I post. USD/JPY, on the other hand rose, higher short term US yields helping the pair along also. China was in the news, specifically the problems (once again) of cuts to power supply weighing on industrial output, high commodity price inputs and shortages of components. This was reflected in the industrial profits data point today, although August data is probably going to be better than this month's (when it comes). There was very little heard out China's Evergrande today, although the share price of its electric vehicle unit did recover some of its losses from Monday's plunge, Elsewhere across FX AUD/USD had a round trip, dropping 20 or so points in morning trade beoifre fully recovering to be little net c
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