26 May 2014
Asia Recap: Currencies trapped in tight ranges
FXStreet (Bali) - A very quiet Asian session, in which the Yen saw some late strength helping to reverse early weakness, while the Euro traded slightly softer following the EU parliament vote.
EUR/USD began trading a tad weaker after centre-right parties and euroskeptics managed to get sweeping gains in the European parliament election. The lowest of the session was found at 1.3611, 3 pips lower than Friday's 1.3614 low. In another fundamental news potentially affecting the Euro and risk sentiment, Poroshenko won Ukraine's election by a large margin, ensuring to have a clear mandate.
USD/JPY tested levels marginally above the 102.00 handle but failed to sustain gains, ending the session at 101.89. The Nikkei 225 gained +0.5%. Meanwhile, the AUD/USD extended its familiar levels, recording a 0.9243-0.9231 range. The BoJ minutes, as expected, provided no surprises.
As a reminder, UK and US markets will be closed today due to public holidays, so expect these tepid moves to extend until Tuesday May 27th.
EUR/USD began trading a tad weaker after centre-right parties and euroskeptics managed to get sweeping gains in the European parliament election. The lowest of the session was found at 1.3611, 3 pips lower than Friday's 1.3614 low. In another fundamental news potentially affecting the Euro and risk sentiment, Poroshenko won Ukraine's election by a large margin, ensuring to have a clear mandate.
USD/JPY tested levels marginally above the 102.00 handle but failed to sustain gains, ending the session at 101.89. The Nikkei 225 gained +0.5%. Meanwhile, the AUD/USD extended its familiar levels, recording a 0.9243-0.9231 range. The BoJ minutes, as expected, provided no surprises.
As a reminder, UK and US markets will be closed today due to public holidays, so expect these tepid moves to extend until Tuesday May 27th.