- US House of Representatives passes debt deal; Senate will vote on bill tomorrow
- Plenty of verbal intervention from Japanese officials but no decison yet reached on actual intervention
- BOJ two-day policy meeting starts on Thursday and some intent on intervention levels expected at this meeting
- Australian June building approvals disappoint at -3.5% MoM, against expectations of +2%
- Regional stockmarkets fall by 1.25% on average
- South Korea bought 25 tonnes of Gold in June/July
- Gold price steady at $1620/oz
USD/JPY was the busiest of the major pairs with intervention-watch the main game. Lots of rumours and on two occasions the USD/JPY shot briefly higher only to immediately retrace. Ranges: 77.17/79, EUR/JPY 110.11/85
AUD/USD has also been slightly nervous ahead of the RBA rate decision. It rallied from 1.0960 to 1.1000 in early trade as the market worried about a possible rate rise but fell back on the poor building-approvals. Range pre-RBA: 1.0959/1.1007
EUR/USD has had a rest after some big moves overnight, only affected by mild cross flows inside a 40 pip range, 1.4238/82
Cable 1.6287/1.6223, EUR/GBP .8733/54, USD/CHF .7819/55, EUR/CHF 1.1149/1.1205
