• Deutsche Bank issued a sell-recommendation on the AUD/USD this morning when rate was around .7920 and they then sold heavily, abetted by model funds, driving spot to .7880.
• Large Japanese buying flow in AUD/JPY on the Tokyo open when rate was on its session lows at 75.75. Market rallied 75 pips in short time.
• USD/JPY bids seen at 95.25/50. Trailing stops above 97.30 may also come into play.
• EUR/USD encountered solid bids at 1.3805 this morning and as mentioned earlier some very big bids are touted between 1.3650/1.3750. Stops are seen now above 1.3950 with offers starting at 1.4025.
• Light profit taking in EUR/GBP has seen the pair rally from .8425 to .8455. Sell orders are noted at .8500/25.