Asian market overview; only minor moves in AUD to report
- AUD/USD rallied from .9185 to .9230 on the back of decent hedge fund demand, trimming shorts is what I’m hearing.
- Plenty of solid offers reported on all major interbank near the highs.
- Reports of very unusual demand in Australian bond markets has given the AUD a boost.
- EUR/AUD again touched important support near 1.4450.
- USD/JPY chopped around 15 pips either side of 97.60 opening level. Higher US yields yet to have any major impact on an already long market. Expect more 96.50/98.50 range trading this week.