- GM and Chrysler seek another $22 billion.
- Australian Q4 retail sales rose 0.8%.
- Gold continues to rally fuelled by some panic buying
Trading was very subdued in Asia after the big moves yesterday. USD/Asia remained very strong with some pairs such as USD/MYR, USD/TWD, USD/SGD, USD/KRW and USD/INR all either making or approaching recent trend highs. Growth has slowed down across the region and nobody seems to know how to kick start it again. The previous total reliance on export markets is now a major problem.
Ranges: 1.2560-1.2613 EUR/USD; 92.10-50 USD/JPY; 1.4218-67 Cable; .6334-.6409 AUD/USD; 115.90-116.38 EUR/JPY.