Written by FastBrokers House
2010-12-16 00:00
Market volatility has again bypassed Asia in what was another very dull and dreary session. The retreat in US yields encouraged some light selling in USD/JPY and the JPY crosses also retreated but the mozes were very small overall. Ranges: USD/JPY 84.15/38, EUR/JPY 111.25/51
EUR/USD had a very quiet session as traders avoided the single currency ahead of today’s summit meeting. The Asian market looks to be square of EUR based on today’s evidence. China and some ACBs are still seen to be buying EUR/USD on dips, albeit in moderate size. Ranges: EUR/USD 1.3210/37, EUR/CHF 1.2777/1.2804
The GBP had a bad night in NY losing ground against all other majors and there has been a quiet consolidation here in Asia with traders showing little interest. Ranges: Cable 1.5542/64, EUR/GBP .8496/.8507
The AUD has also had a slow day in a range between .9858/84.
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