ForexLive Asia Wrap Wed. 12Dec2012: Nth Korea Rocket Launch

*North Korea launched their rocket today. FX impact was almost non-existent. USD/JPY popped about 8 points then fell back quickly. There were some comments from the White House and Boehner re the Cliff: White House proposed 1.4Tr in new taxes - Boeher said "Not acceptable" - halted the rise in EUR/USD but muted impact. Report published today by the Australian Bureau of Resources and Energy Economics that Australia will increase its production of resources and energy this year but export earnings expected to fall 4 percent due to lower prices. Australia data: Wpac Dec. Consumer Sentiment down 4.1% (prior up 5.2%), even after the Dec. 4 rate cut; breaking a string of recent positive results. Japan data: October Machinery Orders (MoM) up 2.6% (+3.0% expected) - first rise in 3 months Japan data: October Tertiary Activity Index -0.1% (-0.4% expected) Japan data: November Domestic CPGI YoY -0.9% (-0.9% was the expected result) Comments from Nomura's chief economist in Shangahia, Zhang, that he sees China Inflation to 4% in 2013 and that there may be 2 rate hikes were followed by a weakening in the AUD/USD   Quiet day in the currencies: EUR/USD traded a little higher (1.3014) but settled into a tight range USD/JPY spiked 8 points (82.63 high) on the Nth. Korea rocket launch and then fell back to settle in a tight range also. Traded to new day's highs (82.70) over the Tokyo lunch period as the USD put on a little strength vs. other majors also. AUD/USD as high as 1.0541 before softening marginally Cable, NZD and CAD all in dead ranges