Asian forex market wrap

Geithner interview on USD, economic stimuli and recover, TARP etc Australia leading economic index +1.7% High NZD not an obstacle to raising rates- RBNZ chief Australia new vehicle sales +2.9% Regional equity markets fall around 0.3% Gold and oil also fall less than 0.5% on the session The EUR has been fairly quiet again today although there has been some selling noted against the JPY and the GBP in particular. No sign of any Sovereign interest in EUR/USD and the next rumoured layer of bids is at 1.4825/30, although I have no confirmation of this. Ranges EUR/USD 1.4889/1.4946. The JPY saw some volatility particularly against the EUR but dealers say that interest was generally patchy and light. Ranges: USD/JPY 90.62/92; EUR/JPY 135.18/75; GBP/JPY 148.45/95. GBP remains quite well bid on the crosses with EUR/GBP falling from .9126 to .9092 during the Asian session. Dealers refer to some decent sized bids around .9050 out of the Middle East. Cable fell early in the session in sympathy with EUR/JPY but has rallied as EUR/GBP selling emerged. Ranges: cable 1.6347/1.6418. Although it's still 200 pips away, there are reports of some sizeable offers in cable between 1.6600/50 area. The AUD was moderately whippy but has now returned to its NY closing levels. It rallied early on the back of leading indicator data and the statements from the RBNZ governor but it then fell swiftly on AUD Markets: Nikkei -0.2%, HK -0.25%. Gold -$3 @ $1055/oz; Oil $78.70/bbl.