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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Apr 23, 2013 11:10:00 PM

A relatively quiet Asian session with the Aussie, Kiwi and Dollar/Yen being the main movers. The AUD/USD dropped on the weaker CPI release as odds for another rate cut rose. The NZD/USD was stronger on the heels of the RBNZ announcing that there were no changes to their monetary policy. Of particular interest was the fact that Reserve Bank Governor Graeme Wheeler did not try to "jawbone" the Kiwi lower even though they must be worried about the continued strength of their currency. USD/JPY looks to be making another attempt at the 100 level as it reached 99.78. It remains to be see if the selling interest at 100 is still present. Given the success that "they" have had in stemming the bullish tide, one can't help but wonder if this interest is the Bank of China, if so then dollar/yen will be hard pressed to break through yet again.



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