AUTOREFRESH 
USD soft in Asian trade
The USD has seen some across the board slippage in Asia, with EUR/USD up at 1.4110 from a North American close Monday around 1.4075, while cable is up at 1.6620 from around 1.6565.
Risk appetite remains in good shape, with Asian stocks, oil etc firmer , and this wil be weighing on the greenback.
There was also talk yesterday of month, quarter, half-year end dollar sales lined up for todays’ fixings, and this interest looks like it’s being front run.
Cable remains bid, managing to re-test previous 2009 high up at 1.6661 overnight, before settling back. Gfk UK consumer sentiment for June came in a -25, the highest read in 15 months, which will have helped underpin sterling.
There is some risk event for sterling today, in the form the final Q-1 GDP data which is widely expected to be revised lower. The data is out at 08:30 GMT, median forecasts calling for -2.1% q/q from initial -1.9% and -4.3% y/y from -4.1%. There must be lumpy stops lying not far north of aforementioned 2009 high up at 1.6661. Asia had the stops around 1.6675/80.
Anyone watching the VIX ? Dropped 2.2 % yesterday to below its level when Lehman Brothers Holdings Inc. collapsed…
Small reminder: The stock market has slumped in the past when the VIX traded at this level. It closed at 25.95 on June 15, 1998. The S&P 500 retreated 11 percent in the next 2 1/2 months as Russia’s debt default and Long-Term Capital Management’s failure caused losses at financial firms. The VIX stood at 25.47 on March 30, 2000, as the Internet bubble was bursting in a collapse that erased 49 percent from the benchmark index for U.S. stocks through October 2002.
Stocks down…VIX up ! 2pts equals almost 10%…