- IMF chief warns against currency wars
- Australian banks may raise rates with or without the RBA
- Japan’s ruling party proposes National fund to invest in overseas reources projects
- UK jobs growth continues to stutter
- Gold posts new record highs above $1345/oz
- Regional stockmarkets rise by up to 1.5%
It has been another extremely quiet session in the FX markets with all of the major pairings trading in tight 30 pip ranges.
EUR/USD tried to challenge the NY high at 1.3860 but reports of Sovereign offers just above there dissuaded any real attempts. Range: 1.3823/59
USD/JPY also threatened briefly to breakl below 83.00 but real money buyers are soaking up all of the selling so far. No sign of any BOJ activity or even MoF comments. Ranges: USD/JPY 83.07/25, EUR/JPY 115.00/24
AUD/USD took a break after the big moves from yesterday, trading in a quiet 20 pip range just above .9700.
Cable 1.5889/1.5918, EUR/GBP .8689/.8712
Markets: Nikkei +1.3%, HK +1.3%, Seoul +1%, Sydney +1.75%. Gold $1345/oz.
