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Asian FX morning re-cap

By   || July 13, 2009 at 00:47 GMT
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  • Quiet Monday morning after an event-free weekend
  • Profit taking in EUR/JPY by model and momentum funds has been the main feature thus far
  • Possible double-bottom now in play in USD/JPY, attracting technical buying
  • EUR/GBP remains well supported amid signs of aggressive dip-buying out of Middle East
  • Solid AUD/USD buying interest around .7750 helps the AUD/USD to regain the .7800 foothold
  • Retail sales out of NZ show continued economic improvement
  • Regional equity markets open slightly lower

I’ll pass over to Sam to guide you through unfolding market events until Europe comes in.

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