Forex trading headlines for Asia Monday 16 June 2014



Gold and oil gained further in the Asian session here today on the back of violent weekend developments in Iraq. The market chatter was that the yen, too, found some support on a ‘safe haven’ basis.

Moves, however, were not large, with USD/JPY off around 25 points from early highs, dragging yen crosses with it, of course.

EUR/USD chopped in a narrow range 1.3530/1.3545 more than covering it. Ukraine, Russia gas talks stopped without resolution but are set to resume (see bullets, above). USD/CHF basically mirrored EUR/USD in its own choppy, narrow range,

GBP/USD had a quiet range but crept ever so slightly higher during the session.

The Canadian dollar barely troubled the scorers, if it was a world cup match it would have ended with a nil all draw.

NZD/USD chopped in a narrow range, too. but as of writing is grinding through the day’s earlier highs. AUD/USD pretty much ditto, but not quite so strong as I write,just below its earlier highs as Kent’s speech is digested.