Credit Agricole in HK citing yen cross liquidation (hard to disagree with him …)

  • market was short yen
  • Asian markets now will drift awaiting Europe and US trade
  • watch ISM and ADP (data from the US) as an input to investor sentiment
  • sentiment still averse to risk (CA citing slower PMIs from China and Europe yesterday)

Actually, hard to disagree with any of this …. I posted here on the yne cross moves: