Asia Session - August 30, 2009 11:15 PM

The first Asia session of the week kicked off with the much anticipated Japanese election results heavily weighing in the backdrop. JPY was bid right out of the gate, with USDJPY opening 30+ pips to the downside from Friday’s close. EURJPY saw similar pressure after closing Friday around the 133.80s area, the pair traded mostly one way through Asia, giving up over 100+ pips. After a half hearted attempt of a rally midway through the session in JPY crosses, sellers swiftly came back in, landing the knockout punch. Full text »