Day ahead in the FX market
- Should be quiet in Asia as holiday period gets closer:
- EUR/JPY closed gap to 109.90; this is now important support and expect large trailing stops below there:
- AUD/USD is holding firm above 1.0510, buoyed by sharply rising iron-ore prices:
- RBA meeting minutes may provide some life in late morning trade:
- EUR/USD is consolidating in very tight 30 pip range, look to EUR/JPY for leads:
- Corporate and real-money flows starting to dry up and Sovereigns can also be quiet at this time of year.