There is a theory…..

That various Asian central banks are presently playing a 1.3700-1.3760 trading range.

From what we’ve heard this morning, that seems like a fairly decent theory. Certainly better than some of the old cobblers I’ve heard over the years.

ACB came in buying in 1.3705/10 area and we’re back up at 1.3725.

Ofcourse the theory will work, until it doesn’t. It’s only a matter of time till we break out of the cosy range. Anyone having a clue in which direction let me know.