- US ambassador to China: China should end discrimination against US firms
- China's PM Wen: Steady economic development, a stable financial system and strong regulation are key to full convertability of the yuan. Should win enough credibility internationally for this to happen
- Euro zone January adj current account surplus 4.5 bln, pretty much in line with median forecast of 4.3 bln
- Greek exports to decline, EU's Reichenbach tells Handelsblatt - Bloomberg
- PIMCO chief Mohamed El-Erian expects 'second Greece' in Portugal - AEP at The Telegraph
- Germany on a different track - WSJ
We should do away with Monday morning sessions, they so often offer little in the way of excitment. Today was no exception.
Yen strength had been the most notable trend, USD/JPY (NYSEARCA:FXY) down at 83.10 from early 83.40, EUR/JPY at 109.35 from around 109.80. US treasury yields have come lower (benchmark 10 year at 2.2672 from early 2.3066) and this will be weighing. We're also fast approaching Japanese financial year end and there are expectations of yen demand for repatriation purposes.
Talk of sell stops now through 83.00 and 82.80.
EUR/USD (NYSEARCA:FXE) unchanged at 1.3165, having dipped as low as 1.3140. Early dip ran into ACB buying around the lows. BIS has been seen selling circa 1.3160 and buying circa 1.3145. It's been that kinda morning.
Cable marginally firmer at 1.5850 from early 1.5835.