Mainly range-based trading so far in Asia
- AUD/JPY moved higher in early trade but with little force behind these moves, traders have given up and we are back close to opening levels;
- Australian Capex came in a bit better than expected but the market has pretty much ignored this;
- USD/JPY bids near 97.35/40 are expected to provide support;
- AUD/NZD has breached short-term technical support at 1.1460 but should find more near 1.1420/25;
- EUR/GBP has drifted lower with GBP shorts in Asia also throwing in the towel after Carney’s neutral speech;
- Hedge funds have been buying EUR/CHF during Asian trade, a slightly unusual occurrence as they normally wait for better liquidity during European trade.