Friday, December 4, 2009

Asia Forex Summary

The forex market in adsia

The dollar consolidated losses especially in Asian trade with major currencies such as AUD-USD and EUR-USD has already stopped in front of the highs in New York trading from. AUD was at 0.7291 to a high of 0.7299 in NY due to limited defensive options, while EUR-USD has been limited to 1.338 to a high of 1.3341 in New York. Similarly, USD-JPY attempts to 97.85 rally stalled, do what by the high of 97.99 in New York. Dealers reported some early JPY cross buying in the Tokyo fix, both alleged high demand, but also in response to a rise in the Nikkei in early trade. But crossing the market has long JPY, and Wall Street Journal reported that Chrysler was close to filing Chapter 11 resulted invited to a round of profit taking, sending USD-JPY and EUR-JPY 97.15 on profit taking, with EUR-USD fall back to 1.3275 as a result. The BOJ left rates unchanged at 0.10% expected. The 50 bp height of the inside of the RBNZ saw the kiwi fell by 0.5735 to 0.5634 lows, followed by consolidation at 0.5633-0.5676 in the afternoon. Asian stocks were all broadly on the back of the more DJIA gains and with oil rising above $ 51, copper much more optimistic on the economic outlook.

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