Anybody trying to earn a living trading todays’ Asian market would be struggling. Whilst there have been some movements, they have been sporadic and have been followed by periods of utter stagnation.
- EUR/USD opened around 1.2780 but was sold off early in the session as dealers triggered an exotic barrier at 1.2750. After basing briefly at 1.2740, further barriers at 1.2725 were also outed. There are rumoured to be bigger exotics at 1.2690/00.
- USD/JPY has drifted lower, capped by good sized offers at 90.10/20. The Nikkei has been down close to 2% at times today, helping the negative sentiment for the JPY crosses.
- AUD/USD has also drifted lower but is supported by corporate bids at .6310. The RBA is widely expected to cut rates by 100 bps tomorrow.
- Liquidity in sterling has been very poor, as usual, and all GBP moves during Asia can be ignored!
