asia

The markets in early Asia were mixed. EUR has been in a very tight range but GBP, AUD and NZD have been relatively weak.

Good evening,

In tonites session, the dollar has been gaining slight strength. With Tokyo not open moves have been illiquid and exaggerated. EUR and GBP bouncing off support but no real momentum.

Late in NY session the Financial media was quoting so called market experts calling for a rise in the dollar.

While the weakness in the USD has been relatively unimpeded and may be due for a technical correction. We stil have the Fed expected to cut rates by a minimun of 25bp.

While it is worth noting that commodity based inflationary pressures are evident on both sides of the Atlantic the USD could benefit from the likelihood that the Fed wil likely stay on the sidelines after this meeting and that the Europeans have been showing signs of a slowdown.

Relatively quiet early Asia session. EURUSD had some bids early on but ran into offers in the 1.5665 area.  USDJPY sold off slightly but found bids in the 104.05 area. Ultimately EURJPY found small bid.

Nikkei closed the day 536 points higher (+ 4.10 % ) The largest one day gain in 5 months ...this comes a few days after the largest one day loss since 9/11

USDJPY surges higher in thin trading now at 107.60 as compared to 107.10 just 90 minutes ago