It’s been a very quiet start to the session but we are starting to see a little movement and strangely enough its the NZD that is getting the ball rolling.

I’m hearing of some modest buying of the NZD against the EUR and the AUD by a US name.

Elsewhere there is talk of large stops in USD/CHF below .9550 which suggests that there may be a barrier in place at that level (the market has stalled twice now at .9555)