FXstreet.com (San Francisco) - After a subdued start, the
Asia-Pacific session is a bit more upbeat after the Tokyo fix as
hopes are lifted that this week's meeting of EU Leaders on
Wednesday will put a little more focus on growth, and on reports
that China is ready to provide more monetary stimulus, which is
also helping risk appetite.
The U.S. dollar, therefore, is broadly weaker, with EUR/USD having
rallied to a fresh 4-day high of 1.2799 vs. 1.2774 late Friday in
New York. GBP/USD has closed the gap at the weekly opening, having
traded up to 1.5832 from its 1.5796 starting price. USD/JPY has
traded up to session highs, reaching as high as 79.23 vs. 79.06 at
the close of the American session. AUD/USD is up around 50 pips on
the day, last at 0.9865 from 0.9813.
Regional stock markets may be somewhat cautious today after stocks
on Wall Street fell Friday on concern over the euro-zone, which
continued to weigh on sentiment. Facebook's jaded Nasdaq debut also
soured the mood.