- Early morning hope of some combined action on Europe evaporated quickly
- Early stockmarket gains gave way to falls across the region as foreign investors continue to exit Asia’s emerging markets
- NZ trade balance came in below expectations
- Metals continue to lose ground; Silver at $29.20, Gold $1632
EUR/USD closed in NY on Friday at 1.3515 and opened higher in Asia on hope that combined action would help find a remedy to the ongoing Greek debt issue. Early interbank prices reached 1.3575 before falling back and risk aversion has seemj steady EUR/JPY selling through the day. Ranges: 1.3390/1.3549
AUD/USD opened higher alongside the EUR but risk aversion has again been the primary factor. Strong buying has again been noticeable in USD/Asia and this has weighed on the AUD. Ranges: .9746/.9837
USD/JPY didn’t catch the USD/Asia bull bug and has been influenced more by the EUR/JPY selling in a 76.35/76 range
Cable 1.5434/93 and USD/CHF .9034/.9109.
