- Very quiet with Japan on holiday, USD drifts lower.
- Feinberg says Freddie Mac and Fannie Mae not like other TARP firms.
- Australia November private sector credit rise 0.1%, housing credit up 0.7%.
- Vietnam December trade deficit $1.3 bln.
- China says it will gradually proceed with exchange rate reform.
- Australian sharemarket closes up 31% for the year. Elsewhere, Shanghai up 0.3%. Nikkei closed.
- Gold slightly higher at 1097.50.
A very quiet day in Asia with Tokyo on holidays, saw USDJPY once more hold tight with standing orders left either side. There was some rebalancing of books with US dollar selling, the theme of the day. A slow drift off into the afternoon saww USDJPY lower from 92.60 to 92.30.
EUR also saw some buying, with EURGBP buyers adding strength to the move up. Sellers above 1.4360 were taken out to consolidate in the 1.4370’s.
Local funds bought AUD with the housing credit numbers and a strong finish to the sharemarket for the year providing support to the local currency. Still, it wasnt enough to break the 8900 -9000 range.
Ranges:
EURUSD 1.4323 – 1.4377
GBPUSD 1.6047 – 1.6087
USDJPY 92.28 – 92.61
EURJPY 132.42 – 132.86
AUDUSD 8933 – 8984
