- BOJ minutes released.
- BOJ says must keep close eye on deflation
- China ready to invest $500mio in Blackstone Group Hedge Fund.
- Asian Stockmarkets trade sideways, Nikkei +0.25%, ASX200 +0.6%, await quadruple witching in the US tonight
- Gold trades a touch higher to 934.95
- Financier R.Allen Stamford surrenders to FBI.
- US moves ground to air missiles to Hawaii.
It was a very quiet day today, with many pairs trading in tight 40-50 pip ranges. There was some Yen cross buying going into the Tokyo fix but nothing special. GBPJPY was the focus with good buying interest helping keep GBP bid on dips. GBPJPY buyers took the cross above 158 early, before retreating only to find more buyers on dips. There are reportedly good bids under 157.30.
EUR held the 1.3880 just above the bids at 1.3870 for an uninspiring move up 40 pips, spending the rest of the day above 1.3900. EURJPY traded slightly higher as the Nikkei opened up on a small positive but without any real flows traders were reluctant to move it either way. No interest was sen in USDJPY, the BOJ minutes providing the only excitement, causing it to pop 10 pips.
Some early AUDJPY interest took AUD up to 8020 before retracing to find buyers lurking under 7990 for a retest of 8020 into the afternoon. Great day for the range traders.
Ranges
EURUSD 1.3881 – 1.3927
GBPUSD 1.6301 – 1.6382
USDJPY 96.46 – 96.76
EURJPY 134.10 – 134.58
AUDUSD 7982 – 8024
Goodluck and have a good weekend,
Sam
