Daily Archives: February 27, 2012
USD/JPY Analysis
Opened around Y81.25 after closing in NY at Y81.20 and after an initial slip to Y81.22 headed higher on a combination of AUD and EUR cross buying to Y81.67 on corporate month end demand. Profit taking across the board in the yen complex then followed shortly after Japan opened.
AUD/USD Analysis
Opened at $1.0694 in Asia this morning and headed up in early trading from $1.0688 to $1.0718 on the back of some strong AUD/JPY buying which took out a Y87.00 barrier to highs of Y87.48, before profit taking set in on Tokyo’s arrival with a fall back to Y86.45.
UBS Morning Adviser Asia
G20 Procrastinates The weekend G20 meeting broke up without any specific decision on how – or even whether – to boost IMF resources with the intention of having extra firepower on standby if Europe needs it. Officials said they would revisit the issue at the next meeting in April, but would first need to see […]