Asia Session – August 18, 2010 2:11 AM

Risk was unable to hold on to the early session gains that were garnered from a solid showing in US equities as a result of better than expected data out of New York as well as successful debt auctions from Ireland and Spain. The risk off theme seemed to gain speed as the session progressed as Asian equities were unable to meet the lofty gains made by its American counterparts. While the S&P 500 and the DOW saw gains of 1.22% and 1.01% respectively, the Nikkei struggled as the lone index with its head above water for the better part of the day. Aggressive yen buying from local Japanese traders was also pivotal in seeing the crosses creep lower. When all was said and done, this session saw majors continue to move in the usual ranges amidst some thinned trading. Full text »

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