Unsurprisingly there were plenty of stop-loss orders below .9580 which have now been triggered. There are Sovereign bids reported just below here towards .9550 so I’m not expecting any major capitulation.

Good two-way business is reported on the interbank platforms, with bids of around AUD 100 million seen in AUD/JPY near 97.90 but heavy stops also being triggered in AUD/USD below .9570.