Asia Session - September 7, 2009 1:29 AM

With the US out for a bank holiday tomorrow, trading was subdued today in Asia to start off the new trade week. Risk made a subtle move back into the markets as the weekend’s G-20 meeting hinted that the global economy was now in the process of shaking off the last remnants of the financial crisis. The Dollar and the Yen suffered on that perception, and the commodity based currencies benefitted greatly. The EUR/USD moved higher right from the 1.4300 open and never looked back as it peaked out at just over 1.4335 for the day. GBP/USD almost reached 1.6420 and then collapsed to near 1.6364 ahead of this week’s BoE rate decision. Although the ranges were small, USD/JPY was able to move higher from 92.90 lows to 93.20 highs. Full text »