- BOJ releases minutes from June 14-15 meeting. Agreed to monitor effect of asset-purchase program. Some say there is a chance CPI will be flat longer than expected. They shouldn’t rule out policy options in advance . MNI
- FT- Libor scandal puts BoE in line of fire .
- China June new homes prices fall in 21/rise in 25 cities out of 70.
- Australia Westpac May leading index rises 0.8% (0.5% forecast).
- Asia stocks rise on Bernanke remarks-BBG
- In case you need updating on Bernanke- UK Telegraph.
Market consolidated most of the session with Eur spending a very brief time over 1.2300. Winding down near the lows at 1.2285. Usd/Jpy range was 78.99/79.14. Even with the release of BOJ minutes that is always so exciting the ccy pair could not drum up any interest. Now onto the Aussie $ with better than expected leading index saw a decent rally touching off some stops above 1.0315. Rally fizzled out near the high of 1.0325 as selling appeared ahead of resting orders at 1.0350. Not sure what to make of this consolidation so will leave it to Europe and Bernanke’s repeat later today.
Have a good one .
