Quick overview of Asian trade
- Focus still on EMs, with USD/INR making fresh highs above 65.00 before RBI stepped in to slow it down;
- Market starting to turn bullish again on USD/JPY, with technical traders eyeing a wedge on daily charts with top near 99.00/10;
- Comments from BOE Weale that they would consider more QE under certain conditions sent the GBP down from 1.5660 to 1.5600;
- AUD/USD fell early as proxy-trade for EM currencies but rebounded strongly after HSBC china PMI data;
- AUD/JPY buying out of retail Japan was significant driver;
- Support levels noted in EUR/USD at 1.3280 and in cable at 1.5570, USD/JPY resistance should be very firm 98.60/75.