Early morning recap

Author: Sean Lee | Category: News

Just to benefit those Asian traders starting their day, improved prospects of a Greek debt restructure deal being reached later today and the Chinese RRR cut over the weekend, ensured that the EUR, AUD and NZD have seen plenty of short-covering both in early interbank markets and also since the rest of the market joined in. Asian stockmarkets are expected to open higher, and this will likely increase momentum even further. EUR/USD and AUD/USD are both almost 100 pips higher than their NY closing levels from Friday.