After the US session’s rangebound Euro trading with CBs on both sides, I suspect the focus in Asia will be the ongoing potential impact of the tragedy in Queensland (now spreading to the north of NSW) on the AUD.
While it is likely the currency will see sellers nervous about the big picture impact, as the resultant cost – although impossible to guess at the moment – will be in the tens of $ bns.
AUD/USD has buyers in the 0.9800 – 15 area and undoubtedly a break would see some heavier selling
