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JPY sees across the board strength in Asian trade on heightened risk aversion

By   || July 6, 2009 at 05:17 GMT
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Risk aversion has been ratcheted up a couple of notches, with Asian stocks/ oil trading lower, and this has benefitted the JPY in Asian trade.

USD/JPY is down at 95.45 from around 96.05 where Europe closed out Friday, while EUR/JPY is down at 133.40 from around 134.25.

Sentiment is still being weighed down by last Thursday’s release of a very weak US jobs report.

For today, not much in the way of data releases.  The one of interest is at 08:30 GMT Euro zone sentix investor confidence for July expected -25 from previous -27.

Sterling saw some further weakness in Asian trade, with EUR/GBP up at .8580 from a close Friday around .8555. 

One factor that will be weighing, is weekend media reports that the Old Lady will most probably announce a further £25 bln in quantitative ease later this week.  Having said that, cable remains ensconsed in a well-defined/touted 1.62-1.66 range.

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