- Swiss National Bank: No rate change, no peg change
- US embassy in Yemen stormed in film protest - BBC
- Japan top financial diplomat Nakao: Latest forex moves clearly speculative – Jiji
- IMF’s Shinohara: No objection to Japan stance of intervention in fx market in case of excess volatility. There is room for BOJ to ease policy further to beat deflation
- ECB’s Demetriades: ECB may not need to buy government bonds. No one will bet against unlimited ECB firepower (we call that talking ones’ book)
- Fortescue seeks 12 months’ debt relief - Financial Review
- Fitch downgrades Queensland to ‘AA'; outlook stable
- Swiss producer/import prices +0.5% m/m, -0.1% y/y, demonstrably stronger than prior months’ -0.3%, -1.8% respectively
- Greek Q2 unemployment at 23.6%, up from 22.6% in Q1
- Renoir painting found at US flea market - The Guardian
- China’s Xi Jinping back after heart surgery - Business Insider
Aussie under the spotlight. Seen some weakness this morning, underminned by Fortescue news (see headline above) and Fitch’s downgrade of Queensland.
AUD/USD down at 1.0430 from early 1.0480, EUR/AUD up at 1.2373 from around 1.2330.
EUR/USD touch lower at 1.2905 from early 1.2920. Pairing tried half-heartedly to rally, reaching session high 1.2932 before drifting back. Technical resistance 1.2935 (61.8% retracement of the 2012 range), barrier option interest at 1.2950 and 1.3000.
Dutch bank who is conduit for SNB seen notable seller around highs.
USD/JPY effectively unchanged at 77.70 amid official jawboning (see above). Barrier option interest noted at 77.50, sell stops below there.
EUR/CHF holding up well despite SNB leaving peg unchanged. Cross touch firmer at 1.2110 from the 1.2100 that greeted me.
