A quiet session in Asia ahead of the ECB meeting and US holiday. We observed some risk reductions in rates, but FX and equity were mostly rangebound. The Nikkei dropped 0.1% and SHComp rose 0.3%, and Kospi was up 0.3%. The AUD popped higher to 0.913 following comments from RBA Deputy Governor Lowe that Steven’s remarks yesterday on the RBA meeting were light-hearted. EUR was little changed at 1.30 and USDJPY traded in a tight range just below 100 figures.
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