Asia Session – January 29, 2010 1:38 AM

Today’s session could once again be dissected into two distinct parts, the risk adverse morning session, and the afternoon session where risk returned to the FX markets. With a trove of factors keeping traders on edge, including the continued troubles in Greece, falling equities, and fear over possible US bank regulations, risk aversion was a driving factor of the dollar and yen strength early in the day. EUR/USD made a six month low of near 1.3912, and EUR/JPY touched a low of 124.80 which represented a nine month low for that particular pair. AUD/USD dipped below the 0.8890 level on the dollar strength and the leek of a research report calling for the RBA to pause its future rate hikes. Full text »

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