- Increased tensions in Libya with hundreds feared dead
- Angela Merkel’s CDU loses heavily in state elections
- G20 again fails to deliver any meaningful progress
- Irish banks behind surge in ECB emergency borrowing
- Rightmove: UK house prices +3.1% MoM
- USD/CNY set at new record low
- Silver makes new 31 year highs, Gold back near $1400/oz
- Oil spikes 1% higher on Middle East
- Regional bourses -0.5% on average
The EUR/USD tried to break higher in early interbank trade but with no apparent reasoning behind the move, it soon ran out of steam. The early interbank market high was at 1.3724 and subsequently the market topped out at 1.3717 as profit taking emerged. Well reported bids at the 1.3665/70 level have managed to hold thus far. Ranges: 1.3667/1.3717
The AUD/USD has also seen some modest profit taking as a mild air of risk aversion was ushered in by the events in the Middle East. Range: 1.0114/51
Cable has been relatively subdued in a 35 pip range with the market ignoring the housing data out of the UK. Ranges: 1.6226/60, EUR/GBP .8419/42
USD/JPY 83.02/17, EUR/JPY 113.59/99
