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The JPY crosses provided the highlight........>

FOREX
FOREX: The JPY crosses provided the highlight during Asia-Pacific dealing, with
USD/JPY having a look above Y111.00, EUR/JPY topped its 100-DMA & AUD/JPY
managed to close above its 55- & 100-DMA on Monday. Elsewhere AUD & NZD edged
higher vs. USD after Monday's gains. It has been a more muted Asia-Pacific
session for the GBP crosses with cable sticking to a 25 pip range thus far, last
10 pips or so softer at ~$1.3240, operating at worst levels.
- EUR/USD remains in consolidation mode following Monday's remarks from ECB
President Draghi, which although upbeat, provided little fresh insight. ECB's
Nowotny also added little new on the MonPol front on Monday. The pair last deals
at ~$1.1750.
- USD/TRY trades around 4 figures off of Monday's high at ~TRY4.7120 last.
Monday's late move higher was inspired by the announcement of the composition of
Turkish Pres Erdogan's cabinet, which includes his son-in-law, who will assume
the role of Treasury & Finance Minister.
- Tuesday's focus turns to UK production & monthly GDP data, German ZEW, as well
as speeches from ECB's Visco/Italian EconMin Tria & ECB's Lautenschlaeger.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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