It’s been a very quiet session again in Asia with 30 pip ranges the norm again. Traders had expected USD/JPY to generate some volatility but with corporate offers weighing and semi-official bids holding it up, the chances for movement are greatly reduced.
Cable has decided to show a bit of life late in the day, sneaking back above 1.6000, but it’s unlikely that we will see any big moves now before Europe gets in. Next resistance in the cable is at the NY high of 1.6035.
