Asian market overview
- All about the election, with the clear victory to President Obama giving risk sentiment a boost:
- Risk trades particularly EUR/JPY fell before the vote started from 102.90 to 102.30:
- Once it became clear that Obama would win, USD started to slide across the board but led by EUR/USD:
- Once the significant margin of victory became clear, risk sentiment improved across all markets and EUR/JPY screamed higher:
- EUR/JPY finishes the session where it started this morning, so it was a good session for old-fashioned FX traders!
- Now eyes turn to Greece parliamentary vote on austerity measures (which has already passed committee stages).