Twice this morning EUR/USD has tested 1.4300. So far the EUR has failed to hold above this level with the slightly softer tone of stock markets in Europe draining some of the enthusiasm for risk and pushing EUR/USD back to the 1.4270 area. In Asian hours, the day belonged to the AUD. Comments from the RBA Governor Stevens that “upside risks balance downside risks” cemented the view that the next rate move by the RBA will be a rate hike. The AUD extended its gains into the London open with AUD/USD hitting highs just shy of 0.8340 before meeting resistance. AUD/JPY hit 79.29 before the JPY found buyers on the softer tone of stocks. Full text »
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