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Forex Flash: The Australian dollar reached almost $1.06 before the unwinding of cross positions against the yen took a toll - BBH

FXstreet.com (Barcelona) - The Australian dollar reached almost $1.06 before the unwinding of cross positions against the yen took a toll (as it appears to have done on the other major currencies as well to varying degrees), noted March Chandler, Global Head of Currency Strategy at BBH.

He went on to add, “The Aussie should find support in the $1.0440-60 band and this will allow it to challenge its 8-month cap near $1.06. Similarly a break would warn that the cap once again held and the Australian dollar may be headed back into the $1.0300-50 area.”

Forex: NZD/USD again below 0.85

Kiwi dollar has come under the 0.85 handle again this Monday in Asia-Pacific following massive sell off in precious metals and lower than expected China CPI, printing fresh session and 3-day lows at 0.8477, on the back of a broad USD bid, but against Yen. The pair is down -1.08% for the session so far.
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Forex Flash: China GDP hints downside risks for the economy - RBS

According to RBS, the China GDP numbers "seem quite disappointing in light of the very rapid loan growth reported last year" says Greg Gibbs, strategist at the bank.
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