- Very quiet again in Asia with tight ranges for the majors
- Fed’s Evans would not be surprised to see accomodative policy remain through 2011
- Fed’s Lockhart on the other hand focuses on possible inflation issues
- Regional stockmarkets mixed with Shanghai down over 0.5% early on prospect of trade deficit
- BoJ minutes show that members split on economic outlook
The USD fell across the board for the latter part of the US session and the Asian market has consolidated those moves, with the majors again trading in tight 25 pip ranges.
USD/JPY closed in NY around 90.05 but jumped to a session high of 90.38 after the release of the BoJ minutes. The pair has traded quietly since between 20 and 35. Range: 90.05/38; EUR/JPY 122.13/60.
EUR/USD has traded in a 1.3540/70 range with volatility initially coming via EUR/JPY. No new developments were forthcoming re the Greek situation. Sovereign bids reported 1.3480 down through 30.
Cable was similarly quiet in a 1.5075/1.5112 range. Dealers tried on a few occasions to get at stops above 1.5120 but to no avail. EUR/GBP range 89.73/89.
AUD/USD has traded quiely in a .9163/88 range.
Markets: Nikkei -0.4%; HK +1%; Kospi +0.4%; Shanghai -0.7%. Gold +6 at $1106/oz.