Risk aversion seeping back in Asia afternoon, after more stable morning markets despite the lower US stocks, as Spain downgraded 28 banks, Cyprus bailout request.

EUR/USD - The last week of the statement period starts with a search for support and the levels in view are 1.2450 and then 1.2400.

EUR/GBP, GBP/USD - Cable is being reluctantly pulled lower by EUR/USD, putting support at 1.5500 in play. But, traders are more interested in EUR/GBP which is ready to breach 0.8000 once again.

 

Posted by Mike Moloney | Account Executive