Asia Session – March 10, 2009 3:00 AM

by Trader Rich

The US Dollar was stepped on today by the Euro, Pound, Aussie Dollar and Kiwi Dollar in what amounted to a day of choppy trading. EUR/USD began the session at the lows of 1.2579 and took off from there, hitting just over 1.2700 as Europe began the trade day. It is questionable how long the pair can sustain the highs in lieu of the ECB putting the kibosh on any further stimulus in the Euro Zone. GBP/USD saw the bottom pickers come in and swoop up the pair from 1.3759 to just less than 1.3850 in Asian trade. EUR/GBP was calm around the 0.9150’s most of the session, but blasted off to 0.9210 in early London trade. AUD/USD made up from yesterday’s losses with a 1% gain as it cruised from 0.6305 to touch 0.6400. NZD/USD danced to the same tune, moving from an early print of 0.4913 to reach 0.4981 by the end of the session. Full text »

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