Open/Wrap

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).

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