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Asia session recap & ranges

Posted by Akhilesh Ganti on Feb 27, 2013 10:50:00 PM

The dollar was weaker against both the Kiwi and the Aussie as economic data released showed cautious signs of strength. New Zealands' business community seems optimistic about future growth prospects while Australian business investment expenditure is expected to rise in coming months. The latter has pared down the expectations of imminent rate cuts by the RBA and has given the AUD/USD a bit of a bid. On the Japanese front, Abe has nominated Kuroda, Iwata and Nakaso for the positions of governor, first deputy and second deputy of the BOJ and now it remains to be seen if the Diet will approve his choices. The Euro has been range-bound as the Italian election uncertainity continues to hold this pair hostage.

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