The cable is exactly where we left it yesterday, EUR and AUD are 20 pips higher and USD/JPY is 30 pips lower. There is certainly no discernible trend at the moment. China is still playing the EUR/USD market, selling rallies above 1.4150. I thought they would have enough USD in their coffers with their massive trade surpluses arriving primarily in USD. AUD also continues to march higher again but should struggle to break above .8100 this time around.
As usual I’m expecting a quiet consolidative session in Asia and we can expect some rumours of Toshin maturities to start in about 2 hours time. We might see some serious scurrying if they do eventuate.
Good luck today.
