Quick overview of the Asian market:
- EZ FinMin meeting broke up without agreement and will reconvene next Monday:
- Meeting ran late into night and market anticipating bad news of some sort:
- EUR/USD gapped 60 pips lower from 1.2810 after the statements:
- Yen weakened again after LDP again raised prospect of funds to buy foreign assets:
- Chinese shares weakened again before probable ‘plunge patrol’ activity near 2000 on the SHComp:
- AUD fell on risk aversion brought on by equities and EZ lack of progress:
- EUR/JPY breached important technical resistance at 104.80 but was unable to consolidate.