Not a lot going on out there in Asian morning trading as you can see from the attached chart of the majors. Overall today i would expect to see the JPY a little weaker against most currencies this morning with the AUD/USD likely to drift back towards the 0.7030 level. Keep an eye on the equity markets because if we see any sharp moves lower we could see a reduction in the market’s appetite for the risk currencies. At present the Australian All Ords is slightly down in early trading.
