Early European chat-room activity
As result of this Nikkei, UsdJpy got pulled below 100 and then triggered very short term stops below 99.90. Dollar continued to decline, orderly manner, to 99.695; we then heard stop sell orders from CTA names are gathered at 99.50 and thereafter. I was told that one lifer sold some 400mio UsdJpy above 100.15.
Xinhua news said President Xi Jinping reiterated that China will strive to deepen interest rate and exchange rate reforms. President Xi also said China is willing to slow down economic growth for reforms. This did not dent the Aud, market stayed firmed above 0.9118 and later climbed to 0.9144. Some mild stops are reported above 0.9155.
The theme for Asia is still pretty much the same. Currency pairs from South faces outflows while North witnessed inflows. As such UsdMyr, UsdIdr and UsdThb stayed firm – UsdKrw and UsdCnh touch lower opening levels.