- Slight US dollar demand at Tokyo fix.
- EURUSD pulls back to 1.4350, Bids hold it up.
- Asian Bourses mixed, ASX200 up 1.4% as it plays catch up after the long weekend,Nikkei down 0.1% as profit taking and JAL shares weigh on market. Kospi down 0.8%, Shanghai down 0.4%.
- South Korea November current account surplus $+1.17 bln.
- Gold holds above 1100, currently at 1103.50.
Another quiet Asian session with minimal flows. The Tokyo fix saw some slight US dollar demand pushing USDJPY up from 91.60 and towards 91.80, but standing offers from 91.80 upwards has prevented any further rise in Asia.
EURUSD slipped back as USD bulls took hold pushing it back to test support at 1.4350. Reported US names buying ahead of 1.4350 saw a small bounce back towards 1.4370 into the afternoon. EURJPY traded a very tight 20 pips, drifting aimlessly with no flows to report.
Model traders sold AUD down after the overnight failure at 89c. Initial support at 8870 gave way, following EUR down in the morning session, before finding support ahead of 8850 from local bids.
Ranges:
EURUSD 1.4351 – 1.4381
GBPUSD 1.5994 – 1.6016
USDJPY 91.58 – 91.78
EURJPY 131.62 – 131.86
AUDUSD 8854 – 8880
